Mayne Pharma Expands In Pitt County Creating 110 More Jobs
Specialty Pharmaceutical Company Will Invest $65 Million in Facilities, Equipment
Raleigh, N.C. — Governor Pat McCrory, North Carolina Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of North Carolina (EDPNC) today announced an expansion by Mayne Pharma at its Greenville site. The specialty pharmaceutical company develops and manufactures branded and generic products globally, in addition to providing contract development and manufacturing services. Mayne Pharma plans to add 110 jobs and invest $65 million in a new oral dose manufacturing facility and equipment during the next five years.
"Mayne Pharma has a 30-year track record of innovation and success in developing pharmaceutical products, and the company's plans to expand facilities and services in eastern North Carolina are key to its business development efforts worldwide," said Governor McCrory. "This important expansion speaks volumes about the appeal our state has for companies at every stage of their growth."
Metrics Contract Services, founded in Greenville in 1994, began as a laboratory providing analytical chemistry services to pharmaceutical companies. It has grown into a full-service pharmaceutical company that develops, manufactures and markets branded and generic products. In 2012, Metrics was acquired by Mayne Pharma, a publicly held (ASX: MYX) specialty pharmaceutical company headquartered in Adelaide, Australia. Mayne Pharma's $65-million expansion plans in Greenville include the construction of 126,000 square feet of new FDA-compliant space for use in large-scale oral and solid-dose manufacturing.
"North Carolina is a leader in life sciences, manufacturing and R&D, and this exciting announcement by Mayne Pharma highlights our competitiveness in all three endeavors," said Secretary Skvarla. "With the choice of Pitt County to grow its workforce and invest significantly, Mayne Pharma is demonstrating that these three knowledge-based industries can thrive in every part of our state."
Mayne Pharma plans to add 110 jobs to its existing 350-person Pitt County workforce. The new positions will include scientists, quality assurance specialists, and manufacturing operators, just to name a few. Salaries will vary by position, but will average $60,000 per year. Pitt County's overall annual wage is currently $35,154.
Stefan Cross is president of Mayne Pharma USA. He said acquiring Metrics proved to be transformative for Mayne Pharma because it established the company's operating platform and accelerated its growth in the United States, the world's largest pharmaceutical market.
"Mayne Pharma's future is extremely positive with significant opportunities to drive growth while supporting our contract services clients and expanding our own marketed product portfolio," Cross said. "This significant investment in our Greenville site will allow Mayne Pharma to take on new and larger products, and expand our work in advanced oral drug delivery technologies, along with high-potent and controlled-release products. We appreciate the state of North Carolina's confidence in our future and anticipate that our growth will benefit Greenville, Pitt County, North Carolina and beyond."
The project was made possible in part by a performance-based grant of up to $550,000 from the One North Carolina Fund. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. One NC grants also require and are contingent on financial matches from local governments.
Numerous state and local allies worked with EDPNC and N.C. Commerce in supporting Mayne Pharma's expansion plans. They include the Commerce Division of Rural Economic Development, the North Carolina Community College System, Pitt Community College, Golden LEAF, Pitt County, Pitt County Development Commission, Pitt County Committee of 100, City of Greenville and Greenville Utilities.