Pharmaceutical Firm Expanding in Davie, Creating More Than 200 Jobs
Pharmaceutical Firm Expanding in Davie, Creating More Than 200 Jobs [Sun Sentinel]
From South Florida Sun Sentinel (FL) (March 21, 2013)
March 21--Actavis, a specialty pharmaceutical company formerly known as Watson Pharmaceuticals, plans to expand its pharmaceutical manufacturing and warehouse in Davie, resulting in the creation of 220 jobs, the Governor’s Office and Greater Fort Lauderdale Alliance announced Thursday.
The expansion will involve the construction of a 30,000-square-foot addition with about 16,700 square feet of pharmaceutical manufacturing space and 13,000 square feet of warehouse space, according to the Alliance.
The company will invest about $40.5 million at the Davie site. Construction is slated to begin in the third quarter of 2013, with completion anticipated in one year.
Actavis already has packaging and distribution functions in Sunrise and pharmaceutical research and development operations in Weston. Its Anda Inc. division, the fourth largest distributor of pharmaceuticals in the U.S., is also located in Weston.
Actavis employs at total of about 1,400 people in Florida, said Paul Bisaro, president and CEO of Actavis Inc.
The company has been approved by state and local government for more than $2.9 million in grants, tax refunds and employee training incentives for its expansion.
"Actavis is one of Broward County’s leading employers and their expansion is a great indicator that our efforts to grow the important and strong South Florida life sciences cluster continues to pay off," said Bob Swindell, president of the Greater Fort Lauderdale Alliance.
Actavis is a publicly held company whose stock is traded on the New York Stock Exchange. Its stock closed at $90.10, up 24 cents, in trading Wednesday.
(c)2013 the Sun Sentinel (Fort Lauderdale, Fla.)
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Posted: March 2013