Legacy Pharmaceutical Packaging, which presently has 120 employees at its 90,000sqft plant in Earth City, intends to recruit 30 workers to staff the lines, and is funding the growth both through its own capital and loans from its primary lender The Private Bank.
Legacy Pharmaceuticals International is focused on contract manufacturing of large and small volume products and the ownership and licensing of small volume but difficult to produce niche drugs. Products produced by Legacy meet the needs of patients in over 70 countries world-wide.
Formed in 2007, with the acquisition from Valeant Pharmaceuticals International of two manufacturing sites and selected brands, Legacy intends to capitalize upon the changing manufacturing trends in today’s evolving pharmaceutical marketplace.
The company, founded by Wayne Welborn, plans to outgrow its office and production space next year. The company’s revenue reportedly doubled from $8m in 2008 to $16m in 2009, and according to Mr Welborn, the company will hit $24m in 2010, reported the website.