Company more than doubles capacity at its New Jersey location through additional production, post compounding and distribution capabilities
| SUGAR LAND, Texas, Sept. 26, 2019 /PRNewswire/ -- QuVa Pharma, Inc. today announced it is completing the next phase of capacity expansion at its Bloomsbury, New Jersey, state-of-the-art cGMP compliant 503B FDA registered manufacturing facility. The investment in post compounding and distribution areas will facilitate additional clean room capacity and second shift operation, more than doubling capacity at the 160,000 square-foot pharmaceutical facility. This is in addition to ongoing investments for further capacity growth at QuVa’s two scale Texas-based 503B pharmaceutical facilities.
“Since our founding in late-2015, we have achieved significant growth, which has further accelerated in 2019. We continue to invest resources to meet the heightened demand for QuVa’s quality sterile to sterile products, with continued expansion plans through 2020 and beyond,” said Stuart Hinchen, QuVa Pharma’s co-founder and Chief Executive Officer. “Customer demand for compounded sterile medications sourced from FDA approved product is now the dominant driver of QuVa’s growth. This additional capacity will come on stream during 4th quarter, 2019. Our strategy of uncompromising investment in facilities, personnel, and product is to support the increasing needs of our health system partners looking for safe and reliable product supply for patients.” Peter Jenkins, co-founder and Chief Development Officer, said, “We continue towards our near-term goal of having 240,000 square feet of state-of-the-art cGMP compliant 503B FDA registered manufacturing capacity. This latest expansion will enable increased production in a matter of weeks as new staff complete training and shifts are added. Further capacity expansion in New Jersey is scheduled during 2020 that will accommodate our multi-year growth plan. We believe our actions continue to demonstrate that we are raising the industry standards from both a quality and a capability standpoint. Furthermore, our fully licensed national coverage of an extensive array of sterile compounded medications, sourced from both FDA approved pharmaceutical products and active pharmaceutical ingredients as starting material, gives us unrivalled capability to service customers including in times of drug shortage.” “Bain Capital, our other partner shareholders, and our financing partners SVB Leerink and Oxford Finance, are pleased to be part of this remarkable growth story,” said Jeff Schwartz, a Bain Capital Managing Director. Andrew Kaplan, a Principal of Bain Capital Private Equity, added, “QuVa Pharma’s innovative, quality-first management team continues to execute on their promise of bringing reliable compounded sterile preparations to the acute care hospital setting. We are proud to support the Company’s accelerated growth, particularly in these times of supply chain uncertainty when QuVa’s services are more relevant by the day.” QuVa Pharma is the market leader in quality compliant compounded sterile products with all existing facilities in Sugar Land and Temple, Texas, and Bloomsbury, New Jersey, in excellent standing with the FDA and all state regulatory boards of pharmacy. QuVa Pharma is licensed to supply compounded preparations into all 50 states, and has a comprehensive range of ready-to-use compounded products, including product compounded from bulk drug substance to alleviate drug shortages. For product ordering inquiries please contact QuVa Pharma Customer Service at 888.339.0874 or via email Customer.Service@QuVaPharma.com. For media inquiries please contact About QuVa Pharma, Inc. QuVa Pharma is a nationally recognized industry leading state-of-the-art cGMP compliant 503B FDA registered manufacturing platform and partner of choice for compliance-oriented healthcare facilities looking to ensure a quality, safe and consistent supply of medications. The Company offers a broad portfolio of ready-to-use products across Pain Management, Anti-infective, OR Syringes, Labor and Delivery therapeutic areas amongst others, all of which are released only once sterility and potency testing is successfully complete, and with validation supporting appropriate Beyond Use Dating (BUD). The company is committed to having a patient-first orientation, as well as a robust product portfolio, leading safety standards, and collaborative, partnership-oriented customer service. For more information, please visit www.quvapharma.com.
SOURCE QuVa Pharma, Inc. |
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