Expansion in response to growth in number of highly potent compounds coming through the early phase pipeline
Global pharmaceutical manufacturer and developer Penn Pharma is to invest Â£14m in its South Wales, UK facility to strengthen its offering for international supply and further build on its established high tech manufacturing capabilities. The company will expand its specialist high containment facilities with a 15,000ft2 new development and commercial manufacturing unit for tablets and capsules meeting the highest international quality standards.
Richard Yarwood, chief executive, Penn Pharma
'We are delighted to announce this significant investment in the UK pharmaceutical manufacturing sector at a time when the established industry remodels itself and outsourcing is on the increase,' said chief executive Dr Richard Yarwood. 'This investment is the catalyst required to enable us to build on the services that we are currently offering our clients and ensure that we are able to react to the evolving marketplace.
'We have seen a growth in the number of highly potent compounds coming through the pharmaceutical early phase pipeline and in response to this we are investing in an expansion of our existing resources to meet this growing demand.'
Penn Pharma has experience in providing an integrated range of services for the development, manufacture and distribution of medicinal products to the global pharmaceutical market. This new facility will see the team at Penn build on its success in the oncology and orphan drug sector and allow for more frequent and larger scale project delivery.
'Over recent years we have witnessed strong growth in our development and manufacturing services, we are expecting this to continue at an increasing rate post completion of the new facility,' added Yarwood.
Thanks to its location in the Welsh market town of Tredegar, the company has secured additional funding and training support from the Welsh Assembly Government.