New Vision Pharmaceuticals, a contract drug manufacturer, closed its sterile blow-fill-seal production facility in Tamarac, Florida, leaving 88 workers without jobs.
The closure was announced in a WARN letter, dated Feb. 9, which said the plant was closing the same day as the layoffs would occur. The company said the job losses would be “permanent.”
Founded in 2012, the company was acquired in 2018 for an undisclosed sum by Morgan Stanley Tactical Value Investing, marking the private equity firm’s first venture into the life sciences sector.
New Vision produced liquid and semi-liquid products for a range of industries, including pharmaceutical, diagnostic and dietary supplements, according to the company’s website.
The company dipped its toe into the test kit market during the COVID-19 pandemic, announcing in 2021 that it would produce “single-use diagnostic reagents for use in antibody and antigen” kits that could provide accurate results within several minutes.
Layoffs have hit several life sciences companies in Florida over the last couple of years. In October 2022, generic drug maker VistaPharm closed a plant in Largo and laid off dozens of workers. Then in August 2023, Thermo Fisher axed hundreds of jobs in central Florida. In October 2023, Largo-based CDMO Formulated Solutions cut 66 staffers.