30th April 2012

Penn Pharma receives £14 million investment

Penn Pharma receives £14 million investment in High Containment Operations
Pharma services company is on expansion path

Global pharmaceutical manufacturer and developer, Penn Pharma, announced on 28 February 2012 a £14 million investment in its South Wales UK facility to strengthen its offering for international supply and further build on the company’s established high tech manufacturing capabilities.

The investment sees the 33 year old company expand its specialist high containment facilities with a 15,000 sq ft new development and commercial manufacturing unit for tablets and capsules meeting the highest international Quality Standards. The new facility will enable the team at Penn to further build upon its established expertise in the manufacture of specialist drugs for the worldwide market.

Speaking on the announcement Chief Executive, Dr Richard Yarwood said: “We are delighted to announce this significant investment in the UK pharmaceutical manufacturing sector at a time when the established industry remodels itself and out-sourcing is on the increase.”

“This investment is the catalyst required to enable us to build on the services that we are currently offering our clients and ensure that we are able to react to the evolving market place. We have seen a growth in the number of highly potent compounds coming through the pharmaceutical early phase pipeline and in response to this we are investing in an expansion of our existing resources to meet this growing demand.”

Penn Pharma has a wealth of experience in successfully providing an integrated range of services for the development, manufacture and distribution of medicinal products to the global pharmaceutical market. This new facility will see the team at Penn build on their success in the oncology and orphan drug sector and allow for more frequent and larger scale project delivery.

Due to the company’s location, in the Welsh market town of Tredegar, the pharmaceutical firm has been fortunate in securing additional funding and training support from the Welsh Government.

Business Minister Edwina Hart has welcomed the news and said: “The Welsh Government continues to provide support in areas of Welsh industry where we can help secure specialist, skilled jobs. We are particularly pleased to be able to support Penn in this significant investment and it’s always good to hear of companies in our key industry sectors investing and expanding, despite challenging economic conditions.”

Wanting to keep high skilled jobs within Wales, Richard believes that the passion and positive attitude that sits with all staff at Penn is testament to the company’s ongoing success.

He said: “Over recent years we have witnessed strong growth in our development and manufacturing services, we are expecting this to continue at an increasing rate post completion of the new facility. We wouldn’t have achieved such great year on year success if it wasn’t for the hard work of our skilled personnel.”

For more information visit www.pennpharm.com