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Cambrex Plans to Complete $100 Million Investment Strategy Earlier Then Planned
The company will see the completion of its projects about a year earlier than expected.
Cambrex
Cambrex is ahead of schedule.
The global CDMO revealed that it has almost completed a $100 million investment strategy, according to a press release.1 While the company had initially planned for the strategy to be completed in five years, the current forecast shows it being completed in just four.
The company has added more than 150,000-square-feet of manufacturing space as part of the plan. When the project is completed by the end of 2024, the company expects to have expanded its space and capabilities at 70% of its sites in Europe and North America. These expansions will improve aspects across clinical and commercial drug development.
One of the major aspects of the plan was to add new capabilities for the creation of complex molecules.
By the end of 2024, Cambrex expects to complete projects in Iowa and Sweden. The Iowa project, located in Charles City, add a new modernized quality control laboratory to the company’s portfolio. In Sweden, Cambrex plans to complete two new production lines in Karlskoga.
Cambrex has already completed projects in North America, such as expanded capacity at existing sites in Charles City, Iowa, and High Point, North Carolina. The company also updated the technology at a site in Waltham, Massachusetts, and expanded capabilities at its site in Longmont, Colorado.
In Europe, the company expanded R&D in Milan, Italy, and built a new storage facility in Liege, Belgium.
In a press release, Cambrex’s CEO Tom Loewald said, “When we began this journey, we aligned our investment strategy to the future needs of our pharmaceutical customers. In addition to manufacturing capacity, we invested in specialized technologies to accelerate the development of highly potent APIs and complex synthetic candidates. I'm thrilled to announce that these capabilities and capacity will be available to the market well ahead of schedule, showcasing the efforts of our talented site operations and engineering teams."
Source
- Cambrex Nears Completion of 5-year, $100-Million-Dollar Investment Plan, One Year Ahead of Schedule. Cambrex. March 18, 2024. Accessed March 19, 2024. https://www.prnewswire.com/news-releases/cambrex-nears-completion-of-5-year-100-million-dollar-investment-plan-one-year-ahead-of-schedule-302090916.html
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