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news.Amneal Pharmaceuticals is investing $120m in physical plant capital expenditures from 2012-2014 to expand its operations at three of its six current manufacturing, R&D and distribution facilities in US.
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The facility enlargements and resulting jobs increase will generate an estimated $21 million per year in additional payroll and other benefits to local economies, according to the company.
Amneal CEO Chintu Patel said the investment enables the company to diversify its generics portfolio.
"This major investment in our U.S. operations will more than double Amneal’s production volume and add hundreds of jobs while maintaining our dedication to superior quality in our products as well as throughout our organization," Patel added.
Amneal president Chirag Patel said,"We clearly understand the value of, and are fully committed to, investing and growing within the market we serve, significantly expanding our number of ‘Made in the USA’ products."