FDA-approved manufacturing plant opens in Sydney
Wednesday, 05 August, 2009
Veterinary pharmaceutical company, Parnell, today opened a $15 million 3,000 square metre manufacturing facility in Alexandria in Sydney.
The facility has been built to the high standards required by US and European regulators for the manufacture highly potent sterile injectables.
According to Parnell, it has the capacity to manufacture millions of doses of its Estroplan - a reproductive hormone for cattle - and Zyadax - a product which treats osteoarthritis in dogs and horses - medications annually, and has been designed to cater to significant global expansion and contract manufacturing possibilities.
The deal is expected to increase Parnell's annual sales to more than $80 million over the next five years.
The plant was opened by Minister for Trade, Mr Simon Crean, in a ceremony held earlier today.
“This facility is a great success story and we are helping Australian companies like Parnell to fight above their weight in export markets," said Mr Crean at the opening.
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