Regeneron Breaks Ground on $1.8B NY Expansion Project
Democratic New York Gov. Kathy Hochul announced the start of construction that will ultimately allow Regeneron to add on at least 1,000 new full-time jobs. In her announcement, she praised the company for its role in combating the COVID-19 pandemic with its monoclonal antibody. She said Regeneron’s work has "undoubtedly saved countless lives in New York and throughout the United States.” Regeneron is the largest biotech company in New York State.
“We are proud that Regeneron will continue to create good jobs and invest in the Mid-Hudson region as they work to make additional breakthroughs against blindness-causing diseases, cancer, genetic diseases and more,” Hochul said in a statement.
The totality of the project will include the construction of eight new buildings, as well as three parking garages and a utility plant. Regeneron will add approximately 900,000 square feet to its campus with this build. The project is expected to take place in two phases over six years, with construction expected to be completed in 2027.
Regeneron President and Chief Executive Officer Leonard S. Schleifer said Regeneron is a proud New York company. Since its beginnings three decades ago, Regeneron has invented industry-leading drug discovery technology and developed ten FDA-approved or authorized medicines in its New York facilities, Schleifer said.
"New York State has played an important role in our success by consistently recognizing the value of innovation, fostering an inclusive and dynamic biomedical industry, and helping to attract top talent to the region,” he stated.
Regeneron isn’t the only company that is breaking ground on new facilities. Earlier this week, Takeda announced a significant expansion to its presence in Cambridge, MA. The Japan-based pharma giant secured 600,000 square feet of new space in Kendall Square, opposite its existing space, to create a large R&D campus.
West Pharmaceuticals broke ground on a new facility expansion project that is expected to add about 200 new jobs. The Pennsylvania-based company is adding a three-story, 37,000-square-foot facility to support the manufacturing of a compound rubber used to develop stoppers and seals for drug vials, Northcentralpa.com reported. Construction is expected to proceed quickly, with the building going online in 2023, according to the report.
In California, CPC Scientific Inc. announced an investment in a new 41,000 square-foot peptides active pharmaceutical ingredient manufacturing facility. The site will be used to manufacture clinical to commercial-grade peptide products. The Rocklin, CA site is expected to be operational next year and will diversify CPC Scientific's supply chain. The company also has a manufacturing facility in China.
“CPC Scientific is entering an exciting period of growth and innovation for peptide and oligonucleotide therapeutic development and manufacturing, and we will continue to provide therapeutic APIs to pharmaceutical and biotech companies around the world,” Shawn Lee, chief executive officer of CPC Scientific said in a statement.
The expansion is expected to bring “many new jobs” to Rocklin, the company said.
Tonix Pharmaceuticals held a ribbon-cutting ceremony for its new 45,000-square-foot facility in Dartmouth, MA this week. The new site houses Tonix’s Advanced Development Center (ADC) for accelerated research, development and analytical capabilities. Also, the facility will be used for the manufacture of the company’s experimental vaccines for infectious diseases, including monkeypox, smallpox and COVID-19.
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