GREENVILLE, N.C. (WNCT) – Mayne Pharma, which already has a manufacturing facility in Greenville, has completed a $652 million transaction with Teva and Allerga, taking ownership of 37 approved and five filed generic pharmaceutical products.
It means the pharmaceutical company will be expanding, constructing a new solid oral-dose commercial manufacturing facility in Greenville. It’ll more than quadruple its existing U.S. manufacturing capacity. The company said in a news release Wednesday that $80 million has been committed to its Greenville expansion, which will introduce new capability, such as multi-particulate layering, bead-coating fluid bed technology and significantly increased capacity to manufacture highly potent products.
In acquiring a drug portfolio, which includes transdermal patches, gel capsules, semi-solids and modified-release products, Mayne Pharma is expanding its focus into therapeutic treatment areas that include women’s health, oncology, central nervous system, and cardiovascular.
Mayne Pharma will become the second-largest provider of generic oral contraceptives in the United States.
“We are extremely pleased to complete this transaction that establishes Mayne Pharma as a key player in the U.S. generic market,” said Stefan Cross, president of Mayne Pharma USA. “This portfolio is highly profitable and will significantly extend our size, scale and reach in the United States. Recent investments in people, systems and facilities will readily support the rapidly growing organization and ensure we continue to deliver exceptional service and high-quality products to our customers. Since Mayne Pharma entered the U.S. market in 2012, our company has established its organization so it could act quickly when attractive growth opportunities like this presented themselves.”
The company said its global workforce will expand to more than 700 employees with 100 new roles added in the last year alone to support existing and future growth of the business. There’s no word on how many jobs will be produced in Greenville as a result of the expansion.
“Our expanded product offering from the Teva/Allergan acquisition provides Mayne Pharma with an opportunity to deepen relationships across the industry – with patients and customers and continuing through to our contract manufacturing and active pharmaceutical ingredient partners. Mayne Pharma’s focus has always been to deliver a reliable supply of high-quality, cost-effective medications that enhance the quality of patient lives.” Cross said.