Amneal Pharmaceuticals to expands three U.S. plants
Facilities in New York, New Jersey and Kentucky part of $120 million project
Amneal Pharmaceuticals, LLC is investing $120 million in physical plant capital expenditures from 2012-2014 to significantly grow its operations at three of its six current U.S. R+D, manufacturing and distribution facilities. Planned site expansions and infrastructure enhancement projects will create over 500 new jobs in manufacturing, research and development, distribution and sales at Amneal locations in New York, New Jersey and Kentucky.
The facility enlargements and resulting jobs increase will generate an estimated $21 million per year in additional payroll and other benefits to local economies. The company now employs over 1,100 people in the United States.
Amneal has a portfolio of prescription and over-the-counter (OTC) drugs across multiple therapeutic area, including pain management, cardiovascular, central nervous system, urology, dermatology, ophthalmic, women's health and diabetes.
"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," said Chintu Patel, Amneal CEO. "It enables us to significantly diversify our generics portfolio, further expanding the value we provide our customers."
"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," said Amneal president Chirag Patel. "Generic pharmaceuticals ensure the lowest cost of medications to help make healthcare more affordable to all consumers."
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey