According to recent trends in the market, the global contract pharmaceutical manufacturing industry is increasing at an average annual rate of 7.5% and is predicted to reach $79.24 billion in revenue by the year 2019. The market research firm, Visiongain, also expects a strong expansion in revenue for these companies to continue through 2025. Some key drivers in this growth include a growing demand for treatments based on highly potent active pharmaceutical ingredients (API) and regenerative medicines.
Keeping these figures in mind, and in order to meet the growing demands of our clients, Piramal Pharma Solutions-Lexington, Kentucky site has recently undergone a major $25 million expansion of its facilities. The expansion focuses on site capabilities and capacity for contract and commercial aseptic pharmaceutical manufacturing. Currently, the infrastructure of the manufacturing plant and warehouse have been redesigned including upgrades to equipment and utilities. The repurposing of the existing space will help the company expand its manufacturing services. This, in turn, will help improve operational efficiency and productivity.
The expansion has included new material airlocks to move products in and out of sterile environments and new process and prepping areas such as a new washroom. A new Microbiology laboratory space has been completed and construction is in progress for a new pass-through in the area. A new warehouse space has also been constructed and is currently in use. Other modifications have been made to the facilities in Phase 1 of the expansion project as well as the utilities. A new clean steam system and purified water skid have been installed to accommodate the increased need for these utilities.
The most exciting acquisition for the Lexington site is a new filling line. This line takes the now fragmented process of filling and completes it in one effective and efficient continuous process. This also allows the company to work with highly potent APIs in a safer way. Watch for a blog post coming soon on the new Steriline at Lexington.