Expansion gives Almac room to grow in North Carolina
- Contract manufacturer Almac officially opened a new, 24,000-square-foot facility at its Durham, North Carolina site on Wednesday, the latest in a series of expansions that have broadened the company's footprint this year.
- New jobs may be inbound as well. Almac noted the building, which is the fourth at the Durham site, will give it room to add more than 100 employees over the next three years.
- One of 17 facilities worldwide, the Durham site serves as a center for Almac's clinical supply services as well as its diagnostic offerings.
Almac is growing in 2018, building up both its bottom line and physical footprint.
Earlier this year, the CDMO opened a cold storage facility at its global headquarters in Northern Ireland, adding 95,000 square feet to support its clinical supply capabilities.
The addition of a fourth building in Durham is more modest in size, but will help boost Almac in the clinical trial supply market. The company didn't link a dollar amount to the opening, but noted that it had invested $5.2 million in the site back in 2016.
Almac's expansions in 2018
|Added 4th building to Durham, NC site||Unspecified||Completed Oct. 2018|
|Opened cold storage facility in Craigavon, Northern Ireland||£20 million||Completed Feb. 2018|
|Invests in new QC laboratory, distribution center in Dundalk, Ireland||£30 million||Announced Jan. 2018|
SOURCE: Company statements
Both the Durham and Craigavon expansions were previously announced and are now coming online. Almac's making new investments too, announcing £30 million (roughly $40 million) in planned spending on a new lab and distribution center in Dundalk, Ireland.
Dundalk is particularly important to Almac as a gateway into the EU — newly relevant with U.K.'s decision to exit the economic and currency bloc.
In Almac's latest fiscal year, which ended Sept. 30, 2017, revenues grew by 19% year over year to £531 million. Pre-tax profits also rose to top £33 million.
- BioPharma Dive With eye to Brexit, Almac to invest $42M in Ireland site
Follow Ned Pagliarulo on Twitter