The company said that the investment will enable it to expand capacity, improve operating efficiency, and "further align its global operations".
"Our organic growth has allowed us to fill up our excess capacity so we are now going to invest in additional capabilities and also upgrade existing ones," Scott Houlton, Aptuit's newly appointed chief operating officer, told Outsourcing-Pharma.com.
"Some of the investment will go to the building of new facilities and the renovation of existing plants, while some of the money will bring recently acquired facilities to higher capacity as well."
Houlton said that Aptuit currently has seven major projects and three of them involve the building of brand new facilities.
He also stressed that the investment would be used across all the company's geographies, both in Europe and the US.
In addition, the money will be spent to increase production capacity across all the different businesses the company currently has.
"This investment is aimed at increasing our production space, in manufacturing, packaging, API production and also additional labs," said Houlton.
"It is a large investment but we have the equity and funding for it."
He said the company's move to embark on such a big investment was led by customers' demand.
"We are being led by our customers; they are the ones that asked us to increase our capacity," said Houlton.
According to the company's investment strategy, 70 per cent of the increased capacity will be for the development scale that the firm already has while 30 per cent will increase the scale of its production.
"This is long-term investment. Most of the projects will take at least two years to be completed so we are investing in the next decade."
This announcement comes hot on the heels of the completion of two major acquisitions – SSCI and EaglePicher Pharmaceutical Services.
While the EaglePicher purchase enriched its API and drug substance manufacturing abilities, the addition of SSCI also aims to broaden Aptuit's drug development service offerings, giving it new capabilities in crystallisation, characterisation, and chemistry of solid materials.
However, financial aspects of the two deals were not disclosed.
With these recent acquisitions, the company has now 15 facilities, with access to 70 countries.
