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Sunday, June 23, 2024

Virginia-based health care company to add 35 jobs in Raleigh

A Virginia-based company that focuses on addiction treatments plans to add 35 jobs and invest $60 million in the next five years on a pharmaceutical production facility in Raleigh.

Indivior, which is based in Richmond, said it plans to hire production operators and quality control engineers, maintenance and an engineering manager.

The plant was previously owned by Sagent Pharmaceuticals, which was sold earlier this year by its Japan-based owner Nichi-Iko. Earlier this year, Sagent told state officials that it would cut 81 jobs at the facility. In 2019, Sagent acquired the facility from Xellia Pharmaceuticals.

“This facility and its skilled workforce will help us secure diversified long-term supply for our products, and we are pleased to now be a member of the thriving Raleigh and Wake County business communities,” said Indivior CEO Mark Crossley in a statement.

The facility includes a 10,000-square-foot laboratory and a separate 70,000-square-foot production building.

“The city of Raleigh supports fostering growth among our local businesses,” said Mayor Mary-Ann Baldwin in a statement. “We purposefully cultivate a cooperative, inclusive, and economically supportive environment for local companies and welcome Indivior Inc.”

Indivior is developing medicines to treat addiction and serious mental illnesses. It has more than 1,000 employees worldwide, and its products are available in 39 countries.

The company will report its third-quarter earnings next week. It projects revenue between $268 million and $273 million for the three months, and adjusted earnings between $55 million and $65 million.

Its stock closed Friday at $20.09, up 25 cents.

 

 

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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