Cambrex to invest $45-$50 million in API capacity expansion; posts strong financials

US drugmaker Cambrex (NYSE: CBM) has initiated the second significant expansion of its Charles City, Iowa, facility in less than three years. Strong continued growth in demand for the company's active pharmaceutical ingredient (API) contract manufacturing capabilities is driving the need for more capacity.

The company expects to invest between $45 and $50 million during 2015, including a state of the art current Good Manufacturing Practices (GMP) production facility and related supporting infrastructure. This project is expected to be completed in early 2016 and is designed to allow Cambrex to quickly and efficiently further expand cGMP capacity, as future growth requires.

The facility will be designed to the highest regulatory and safety standards, capable of handling potent APIs at an OEL down to 1mcg/m3 and will significantly increase the company's cGMP manufacturing capabilities. The facility is also expandable with the ability to add additional capacity on a short timeline. The capacity is being added along with 45,000 square feet of new fully cGMP, temperature and humidity controlled warehouse space.