Piramal announces $25m Kentucky site investment
Piramal Pharma Solutions will spend $25m (€22m) to expand the Coldstream Laboratories site it bought in 2015.
The Indian-based manufacturer announced the expansion this week, explaining it will increase filling and freezing drying capacity at its drug manufacturing facility in Lexington, Kentucky.
The first phase will see it install a vial filling line with capacity to handle potent active pharmaceutical ingredients (APIs). Phase two of the project will see Piramal add two lyophilizers.
Piramal cited growing demand for sterile drug manufacturing services and consolidation in the services sector as the driver for the investment adding that it “believes that it can take advantage of the market situation and grow it Lexington business multi-fold.”
The firm bought the site along with Coldstream Laboratories for $30.65m at the beginning of last year.
