pharma launches new drugs to be made at new facility

After $80M NC expansion, pharma launches new drugs to be made at new facility

By   – Staff Writer, Triangle Business Journal

Australia’s Mayne Pharma Group Limited is launching new drugs that will be made at its new manufacturing facility in Greenville.

The pharma’s latest launch is a generic alternative to Concordia International’s drug, Kapvay, for the treatment of attention deficit hyperactivity disorder.

Mayne Pharma cited contract research giant Iqvia in stating annual U.S. sales of the particular type of tablets “were approximately $60 million for the 12 months [ended] April 30, 2018.”

Back in 2016, Mayne Pharma closed on a roughly $650 million generics buy from Teva Pharmceuticals Industries Limited (NYSE: TEVA) and Allergan (NYSE: AGN).

That deal was followed in April of this year with the official opening of its new $80 million manufacturing facility in Greenville. Mayne Pharma also has its U.S. base at a commercial office in Raleigh.

As of June 2015 – when the new manufacturing facility broke ground – Mayne Pharma employed 326 people in Greenville, a company spokeswoman confirmed earlier this year. While, as of March, the company employed upward of 420 there.

Mayne Pharma employed 25 people in Raleigh as of June 2015 and 70 people as of March. There are also additional employees who work remotely.

According to Mayne Pharma, it “expects several product launches throughout the coming year, with 14 drug applications pending at the U.S. Food and Drug Administration targeting U.S. markets with sales greater than $2.5 billion.”