North Carolina Construction News staff writer
Pisgah Laboratories, Inc., a pharmaceutical manufacturer has announced a $55 million investment to expand its manufacturing product line.
“North Carolina’s life science industry is expanding all over our state including rural areas like Transylvania County with the growth of Pisgah Laboratories,” said Governor Cooper. “When North Carolina companies expand and reinvest in our state, it validates our ranking as the best state to do business.”
With roots in x-ray film dye and agrochemicals, Pisgah Labs was founded in North Carolina in 1981. The company received its first FDA approval to manufacture active pharmaceutical ingredients in 2002 before exclusively developing pharmaceuticals in 2005. Pisgah holds 31 patents and manufactures the active ingredients for pain medicines and the treatment of disorders and diseases, such as Alzheimer’s and fibromyalgia.
The expansion will add sterile injectables and liquid filling operations with a new pilot manufacturing facility, quality control laboratory, warehousing, and microbiological laboratories.
“We are excited to begin this expansion of Pisgah Labs,” said Dani Bailey, site manager of Pisgah Labs, Inc. “We are grateful for the support from North Carolina and Transylvania County.
“Carving a space in the highly competitive pharmaceutical market is not an easy task, but we welcome the challenge and intend to see many years of company growth, job creation and education opportunities for Pisgah Labs and western North Carolina.”
A performance-based grant of $50,000 from the One North Carolina Fund will help with Pisgah Labs’ expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.
“This is outstanding news for Transylvania County and the entire state,” said N.C. Senator Chuck Edwards. “Pisgah Labs is integral to our burgeoning life science cluster and will be a great partner for helping our region grow a strong talent pipeline for many years to come.”
In addition to the N.C. Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Biotechnology Center, North Carolina Community College System, Blue Ridge Community College, Transylvania County and the Transylvania Economic Alliance.