Privately held Tolmar, nearing completion on a manufacturing plant expansion, is now taking on some warehouse space to complement it.
The Fort Collins, CO-based drugmaker is adding a 12,300-square-foot building to the other facilities it has in the area. "We needed at least 10,000 square feet of warehouse space, and that's at a premium right now," Tolmar CEO Mike Duncan told the Loveland Reporter-Herald. "We couldn't find any in Fort Collins, and it's also close to our Windsor facility."
The Windsor facility Duncan referred to is a 150,000-square-foot former cardboard-box plant the company bought in 2012 and is converting into a manufacturing facility to help produce its growing portfolio of drugs. Duncan told the publication he expects it to be producing product in 2016. The company already has two production plants, R&D and administrative facilities in Fort Collins and employs about 450 people in northern Colorado,
Tolmar has a portfolio of two dozen products including the prostate cancer drug Eligard, one of the top-selling cancer drugs in the world. Tolmar developed Eligard and in 2009 struck a $230 million deal with Canada's QLT to regain control of the drug. QLT had the license and a deal with Sanofi ($SNY) to distribute the cancer treatment. Tolmar got full control of the product last year.
- read the Reporter-Herald story
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