NantWorks to invest US$85.5m in pharmaceutical plant
Plans to redevelop former Pfizer facility in Indiana, US
NantWorks, a US-based company focused on scientific research and healthcare, will locate a new pharmaceutical manufacturing plant on former Pfizer property south of Terre Haute, creating up to 234 new jobs by 2016.
The California-based company plans to invest US$85.5m to redevelop the former Pfizer facility on around 210 acres.
The new facility, called NantWorks Terre Haute is expected to be operational in 2015, and will produce critical care injectable and cancer drugs.
The Indiana Economic Development Corporation offered NantWorks up to $2m in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until workers are hired, the company is not eligible to claim incentives.
Patrick Soon-Shiong is chairman and ceo of NantWorks. His net worth is estimated at $7bn, which he made by selling two drug companies in 2008 and 2010.
‘As a country, we need to develop and enhance our capabilities to manufacture injectable and next generation drugs in America,’ said Soon-Shiong.
‘This plant [in Vigo County] is a sign of NantWorks' commitment to that objective.’
NantWorks plans to convert the site to a pharmaceutical manufacturing for drug compounding, aseptic and terminally sterilised drug product filling, lyophilisation, laboratory operations, product development, research, process engineering and cleanroom operations.
Products to be manufactured include pre-filled syringes and vials.