Raybow Pharmaceutical Announces U.S. Expansion
Raybow Pharmaceutical Will Invest $15.8 Million in U.S. Facility.
BREVARD, N.C., March 22, 2021 /PRNewswire/ -- Raybow USA Inc, the North American unit of a global provider of outsourced pharmaceutical process development and manufacturing services, will expand its operations in North Carolina, tripling both its capacity and workforce. The company plans to add 74 jobs over the coming five years and will invest $15,800,000 at the Brevard facility.
Raybow USA was founded as PharmAgra Labs in 1999 by two North Carolina entrepreneurs. Today, the Brevard-based company is the North American unit of China's Raybow Pharmaceuticals, a publicly-held contract development and manufacturing organization (CDMO) that partners with leading pharmaceutical companies across Asia, Europe and North America. The company has made sustainability and green chemistry central to its mission.
Raybow USA, which currently employs 24 in Brevard, focuses on early-stage R&D and process research through Phase II clinical trials.
Peter Halkjaer-Knudsen, Executive Vice President of Raybow Pharmaceuticals said, "Raybow Pharmaceuticals is proud to announce that, a year since we acquired the Brevard site, we are ready to further increase our commitment in North Carolina. We are grateful for the warm welcome we have received and the continued support we experienced during the feasibility studies for this expansion. Transylvania County has proven to be the right choice for our North American headquarters and R&D operations and we very much look forward to the continued journey with the people of North Carolina."
Peter Newsome, Co-President of Raybow USA said, "These investments fit perfectly with our long-term goal of expanding our operations to meet the United States." Roger Frisbee, Co-President of Raybow USA added, "We are excited about expanding our operations in Brevard and supporting future economic development in Transylvania County. Pete and I look forward to continuing our work, which now includes increased global capabilities and reach."
New positions at Raybow USA will include research chemists, pilot-plant personnel and supervisors. Once the expansion is complete, the local region will benefit from a nearly $5.7 million payroll impact in the community, each and every year.
"North Carolina pioneered contract pharmaceutical discovery more than a generation ago, and today the industry connects many of our communities with global life sciences opportunities," said Commerce Secretary Machelle Sanders. "We welcome this major expansion by Raybow USA, whose local roots showcase the best traditions of entrepreneurship in our state."
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SOURCE Raybow Pharmaceutical