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Caraco to add 600 jobs by 2012
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)
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