Recent Purchase Spawns Larger Expansion for PharmaForce

Written by Innovate New Albany@InnovateNA13 years ago

Share Tweet

PharmaForce, a major manufacturer of sterile pharmaceuticals and sole-source or first-to-market generic injectible drugs, will expand its operations at the New Albany Research and Information Innovation Campus later this year. The company’s 70,000 square feet facilities will feature its corporate headquarters as well production and research space connected by an atrium.

Since the company was purchased last year by Luitpold Pharmaceuticals, Inc., a New York-based company of Daiichi-Sankyo Co., Ltd., headquartered in Tokyo, the company has invested additional money into the project to create the conglomerate’s most technologically advanced facility in the nation. In fact, the parent company was so impressed with the location and plans that it decided to expand the development beyond its original footprint.

The move will allow the company to continue its impressive history of developing innovative drug applications. The company is credited with the “rapid development, submission and regulatory approval of more than 120 drug and device applications, a process that includes the qualification of active ingredients, product stability, analytical testing and, finally, dossier development and submission for government approval.”

According to Mike Medors, PharmaForce co-founder and CFO, the Village’s state-of-the-art fiber optics network was among the Village’s most attractive assets enabling it to easily exchange data globally, an even more important consideration given its new ownership.

Innovate New Albany, the city’s incubator for technology startups, entrepreneurs and small businesses, features 16,000 square feet of space within the New Albany Business Park’s Signature Office Building, 8000 Walton Parkway.