Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Pharmalucence is planning to construct a pharmaceutical production facility and new corporate headquarters in Massachusetts. The project will be supported by the first Recovery Zone Facility Bond issued in Massachusetts. The $20m bond was issued on the company’s behalf by MassDevelopment and purchased by TD Bank.
Subscribe to our email newsletter
Pharmalucence is a privately-held, employee-owned company specializing in the production and marketing of radiopharmaceuticals and the furnishing of contract drug formulation, analytical methods development and production services.
The new Pharmalucence facility will feature advanced automation and use methods that isolate manufacturing within an aseptic envelope to enhance cleanliness and regulatory compliance.
The facility will support small clinical trial lots to full commercial scale production for markets worldwide.
Pharmalucence plans to start construction during the summer of 2010 with full operation expected by the end of 2012.
Ed Connolly, COO of Pharmalucence, said: “Pharmalucence makes eight drugs used in the diagnosis of illnesses like cancer or heart disease. It also sells its excess production capacity to other pharmaceutical companies that need production support.”
Glenn Alto, president and CEO of Pharmalucence, said: “We are investing to fully replace and modernise our infrastructure to ensure we maintain our local presence going forward. This project will also expand our capacity to allow more focus on our contract manufacturing business, bringing growth.
“Currently, there is a trend to abandon domestic contract drug production for off-shore providers, but Pharmalucence is furthering its commitment in Massachusetts with full confidence.”