Sharp is honing its edge in the growing sterile injectables market by expanding its production capacity for secondary packaging at its facility in Macungie, Pennsylvania.
Although Sharp didn’t disclose how much it is pumping into the facility, the company said the project will add an additional 157,000 square feet to the site, giving the location an overall footprint of 315,000 square feet. The expansion will add between 75 to 100 new jobs when completed, the company said in a May 6 press release.
The expanded Macungie site will feature new packaging suites, ambient warehouse space, cold storage rooms, plus new equipment and technology to support assembly, labeling and packaging of injectables.
According to a Grandview Research report cited by Sharp, the contract manufacturing market for sterile injectables is forecast to grow at a compounded annual rate of 8% throughout this decade, reaching $5.7 billion by 2030.
“Demand for sterile injectable medicines has skyrocketed over the last few years due to increased investment in the biologics industry across all therapeutic categories, rare and orphan disease therapies, and blockbuster GLP-1 agonists,” Jeff Benedict, Sharp’s chief commercial officer, said in the company's release.
Last October, Sharp, which focuses on commercial pharmaceutical packaging and supplies for clinical trials, snapped up CDMO Berkshire Sterile Manufacturing for an undisclosed price. The deal enhanced Sharp’s ability to offer small- to medium-scale sterile injectable services, the firm said at the time.