Amneal plans $120 million expansion
BRIDGEWATER, N.J. — Generic drug maker Amneal Pharmaceuticals will spend $120 million to expand three of its plants, the company said Monday.
Amneal said it would spend the money over a two-year period lasting through 2014 to "significantly" grow operations at research-and-development, manufacturing and distribution plants in New York, New Jersey and Kentucky. The company, which employs more than 1,100 people in the United States, said the expansion would create 500 more jobs.
"We clearly understand the value of, and are fully committed to, investing and growing within the market we serve, significantly expanding our number of 'Made in the USA' products," Amneal president Chirag Patel said. "Generic pharmaceuticals ensure the lowest cost of medications to help make health care more affordable to all consumers."