Generic drugmaker InvaGen Pharmaceuticals and AlphaMed Bottles, both co-owned companies, said they will build two separate manufacturing facilities in Central Islip, located on Long Island, NY.
The 260,000-square-foot facility to be built for InvaGen is expected to cost about $37 million and will retain about 390 jobs while creating an additional 100, Newsday reported. The 80,000-square-foot building going up for AlphaMed will cost about $10 million and will retain 15 jobs and create 10 additional jobs, the newspaper said.
The purchase price for the city-owned, 18-acre property that was once the site of a psychiatric hospital was $3.5 million.
InvaGen manufactures generic pharmaceuticals, including cardiovascular, anti-inflammatory and antidiabetic medicines. AlphaMed produces and distributes bottles for the pharmaceutical industry, including InvaGen. Both companies are currently based in Hauppauge, NY.
"The decision to expand operations in Islip Town was an easy one, with the programs the town (of Central Islip) provided," Sudhakar Vidiyala, president and chief executive of both companies said in a statement.
- see the Newsday story