Lupin to Establish a New Manufacturing Plant in Florida
Pharmaceutical company Lupin plans to establish a new manufacturing plant in Coral Springs, Florida, involving an investment of $250 million.
According to a regulatory filing by the Mumbai-based drug manufacturer, the new site is expected to have a cumulative investment of $250 million, encompassing research and development, infrastructure, and capital expenditures over five years, allowing for the production of over 25 essential respiratory medications.
The facility located in Florida would manufacture items such as albuterol inhalers intended for children suffering from asthma, it noted.
This vital project will improve medicine security and bolster the company’s standing as a global leader in respiratory care by reinforcing domestic manufacturing and improving supply chain diversification, it stated.
"Lupin's growth in Coral Springs is a key component of our expansion strategy," stated Christoph Funke, Chief Technical Operations Officer at Lupin.
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The facility will enhance the company's current presence in Florida, where its headquarters and Advanced Inhalation Research Centre are located, he mentioned.
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According to the company, the Coral Springs facility will serve as a cornerstone for US production of essential respiratory therapies, enhance the supply chain, and guarantee affordable, dependable access ranging from standard pediatric care to large-scale pandemic needs. Lupin has obtained over 5 acres of land to initiate this 70,000 square feet expansion, it announced.
Lupin will obtain tax credits and incentives from the state of Florida in acknowledgment of its plans for investment and job creation, it stated.
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Lupin is collaborating with Florida Commerce/Select Florida; City of Coral Springs; Greater Fort Lauderdale Alliance; Broward County Commission, (Workforce/college partner) as a component of this strategic initiative, it stated.