In a recent update, officials shared plans to invest in medical manufacturing in the Commonwealth. Piramal Pharma Solutions, a global pharmaceutical company, is expanding its operations in Fayette County.
The site in Lexington focuses on drug research and development and the manufacturing of sterile injectable products. Stuart Needleman, Chief Commercial Officer with Piramal Pharma Solutions, said this facility allows them to help the state.
“Our goal is to help everyone in this room reduce the burden of disease so people can live a better life. That is part of our mission. So, we’re really proud, our leadership debated what we should do, and we invested $85 million. We’re going to bring 45 high paying jobs to the state of Kentucky in 2 years,” said Needleman.
Piramal has 15 locations worldwide, in countries like the United States, Canada, the United Kingdom, and India. The company originally acquired space from the University of Kentucky’s Cold Stream Laboratories in 2015. Beshear said having a company like this in Kentucky brings many benefits.
“This is a company that has locations all around the world, that is globally recognized, it is one of the biggest names in pharmaceuticals. Having them have a Kentucky location helps us to expand our pharmaceuticals industry, gives us extra legitimacy, so this is a big announcement,” said Beshear.
The expanded facility will work with potent drugs and medical ingredients and manufacture sterile injectable products using new technologies and expertise.