Australia-based Mayne Pharma ($MYX) has been expanding its manufacturing in the U.S. to build up capacity in the world’s richest market. Now it will expand in Australia, also as part of its U.S. efforts.
The drugmaker will invest about $25 million in infrastructure and equipment in a facility in Salisbury, Australia, over the next 18 months, according to The Advertiser. The company is getting $4 million in government support for the project.
The expansion is in large part to boost production of its Doryx acne brand, according to the newspaper. Mayne last month got FDA approval for Doryx MPC, in 60mg and 120mg dose strengths. Doryx MPC is a new formulation that incorporates a modified polymer coat designed to further retard the release of doxycycline in the acidic environment of the stomach, the company said.
CEO Scott Richards told the publication that about 75% of the production, by value, is sold in the U.S. “The next 18 months will add significant capacity for our products destined for the U.S. market,” Richardson said.
Mayne is also expanding its U.S. facilities. Last year said it would invest about $65 million to more than double its capacity at its Greenville, NC site. That project includes a 126,000-square-foot oral-dose facility that is expected to be operational by 2018. The company said the expenditure will also include the repurposing of existing space to expand contract services. It says it will add about 110 positions to its workforce of 350 it currently has at the site.
Mayne got its foothold for manufacturing in the U.S. in 2012 when it acquired Greenville, NC-based Metrics, a privately owned U.S. niche drug developer and contract manufacturer, for about $120 million.
- read The Advertiser story (sub. req.)
- more on FDA approval for Doryx
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