FierceBiotechFierceBioResearcherFierceVaccinesFiercePharma   FierceHealthcare

Free Newsletter

Get the pharma industry's daily monitor, with a special focus on pharmaceutical company news and the market development of FDA approved products. Sign up for free today!

About | Sample | Privacy
Related Topics >> pharma jobs | plant expansion | Michigan | Caraco

Caraco to add 600 jobs by 2012

Tools

Even in this era of big pharma layoffs, a few companies are still adding jobs. Take generics maker Caraco Pharmaceutical Laboratories, majority-owned by of India's Sun Pharmaceuticals. The company is moving forward with its previously announced plans to expand its Detroit-area manufacturing plant. The $22 million growth plan includes 600 new jobs by 2012.

Leveraging its connections with Sun, Caraco managed to boost sales by 200 percent last fiscal year, to $$350 million. Profits were $35.4 million. Sun gives Caraco access to capital, R&D and inexpensive raw materials for the 54 generics it makes in Michigan. And Caraco markets and distributes Sun's products in the U.S.

- read the story at the Detroit News

Related Articles:
MedImmune to hire 800 in pipeline push
OpGen to hire 70 in new Maryland quarters
Caraco to withdraw misshaped metformin
Caraco gets FDA nod for GSK seizure drug (Nov 2007)
Forest files suit against Caraco (July 2006)

More stories about pharma jobs   plant expansion   Michigan   Caraco  

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.

More information about formatting options

What is 2 + 9?
To combat spam, please solve the math question above.