Baxter to invest US$1bn in biologics capacity expansion
Will build manufacturing site in Covington, Georgia and create more than 2,000 US jobs
Baxter International will invest more than US$1bn over the next five years to build a new state-of-the-art manufacturing facility in Covington, Georgia, US.
The move is expected to create more than 1,500 jobs to support growth of Baxter’s plasma-based treatments, which include medicines for immune disorders, trauma and other critical conditions.
Construction will begin this year at the new site, which will include operations supporting plasma fractionation, purification, fill-finish and a testing lab.
Commercial production is scheduled to begin in 2018, with the new plasma fractionation facility adding up to three million litres of new capacity annually when fully operational.
The site will also have room to expand to support additional global demand.
In connection with this investment, the company also expects to create more than 200 new positions in Illinois, including jobs associated with expanded filling and finishing capacity at its manufacturing facility in Round Lake, to support production of Flexbumin, a preparation of plasma-based albumin treatment in a flexible container.
Baxter's first-quarter profit rose 3% on better sales of haemophilia and immune disease treatments, anaesthetics and other treatments.
The firm said its profit increased to $588m, or $1.04 per share, from $570m, or 98 cents per share, a year ago.