Nexus to build sterile injectable manufacturing facility in Wisconsin

By Akshay Kedari  Date: 2019-07-12

Nexus to build sterile injectable manufacturing facility in Wisconsin

Nexus Pharmaceuticals, a biopharmaceutical company focused on research & development of critical-need injectable medications, recently revealed plans to invest $250 million to build a sterile injectable manufacturing facility at Pleasant Prairie, in Wisconsin, cite source.

For the record, the company specializes in developing advanced processes to manufacture specialty & generic injectable drugs and will be investing in a facility which will focus on the production & supply of injectable drugs in various therapeutic areas including neurology, anesthesia, cardiovascular and oncology.

Mariam Darsot, Chief Executive Officer of Nexus, was reported to say that this investment is required to drive the growth for the U.S. pharmaceutical manufacturing industry. The firm acknowledges the Wisconsin Economic Development Corp., Kenosha Area Business Alliance, the Milwaukee 7 and the Village of Pleasant Prairie for enabling the firm develop plans for this major expansion project, Darsot added.

With an estimated investment of $250 million, the multi-phase project is expected to be completed in 10 years. Construction is planned to commence in August 2019 & is expected to be completed by 2021. After the facility & manufacturing procedures receive approval from the FDA, commercial production is slated to commence in 2022.

As per sources close to the matter, the initial phase investment of $85 million will support a new, 3-story manufacturing facility with ground-breaking technology including an advanced isolator system that can facilitate maximum product protection & sterility, for reducing the risk of contamination. The new facility will also include multiple freeze-drying (lyophilization) machines to support production of the firm’s present portfolio & robust pipeline of generic & specialty injectable drugs.

Reportedly, the new 100,000 sq. ft. facility is being designed by IPS (Integrated Project Services) with Turner Construction providing construction management services. Both companies have strong backgrounds in design & construction of pharmaceutical manufacturing. The facility is expected to provide for the Wisconsin economy as it is anticipated to create more than 77 new jobs in fields of high technology manufacturing & science by 2022.

Source credits: https://finance.yahoo.com/news/nexus-pharmaceuticals-build-industry-leading-203000066.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Tiger Global looking to raise USD 10 billion to create new venture fund

Tiger Global looking to raise USD 10 billion to create new venture fund

By Akshay Kedari

American investment firm Tiger Global is reportedly looking to create a capital fund for startups by securing USD 10 billion from investors. So far, the company has participated in over 100 investment rounds since the past three months and has manage...

Urban Company secures USD 190 million in funding round led by Prosus

Urban Company secures USD 190 million in funding round led by Prosus

By Akshay Kedari

Urban Company, an Indian gig marketplace that provides home maintenance services, has secured USD 190 million in a funding round which was led by Prosus N.V. Other participants in the fundraising included companies such as Steadview Capital, Tiger Gl...

Samsung might launch a foldable Android tablet in first quarter of 2022

Samsung might launch a foldable Android tablet in first quarter of 2022

By Akshay Kedari

After introducing three foldable smartphones in the past couple of years, South Korean multinational conglomerate Samsung Electronics is reportedly working on its first tri-folding Android tablet. According to reliable sources, the new product is lik...

Remote hiring startup Deel secures USD 156 million in Series C funding

Remote hiring startup Deel secures USD 156 million in Series C funding

By Akshay Kedari

Deel, a company that specializes in offering recruitment, payroll, and compliance tools, has reportedly secured USD 156 million during a Series C funding round which was led by YC Continuity Fund. The California-based startup has now reached a valuat...

Audi unveils the A6 e-Tron concept with 700 km range and 800 Nm torque

Audi unveils the A6 e-Tron concept with 700 km range and 800 Nm torque

By Akshay Kedari

Audi AG, a German multinational auto manufacturer of luxury vehicles has unveiled the A6 e-Tron concept which is soon likely to be made available globally. The production version which is expected to have a range of 700 km (more than 400 miles) is to...