Global Pharmaceutical Contract Manufacturing Industry is a global pharmaceutical contract manufacturing industry, with an annual turnover of more than $1.5 billion.
The industry has long been considered one of the fastest-growing sectors in the pharmaceutical industry, but in recent years the industry has struggled with rising patent costs and regulatory concerns.
This is the first time a major pharmaceutical firm has been moved to Washington D. C. and will mark the first of a series of planned expansions in the area.
“Our first order of business in D.c. will be to relocate our operations and our manufacturing operations to the heart of our global manufacturing hub in the nation’s capital,” said David W. Schulz, CEO of Global Pharmaceutical, Inc., in a statement.
“With the help of our partners in the D.cc. community, we are ready to start delivering on the promise of bringing our products and services to consumers worldwide.”
Global Pharmaceutical has a contract manufacturing business in the U.S. that manufactures over 100 pharmaceutical drugs and is expected to begin expanding its manufacturing operations at the D’s Union Station in 2020.
The move will help boost the company’s global manufacturing presence, which currently employs about 2,000 people in the United States.
Global Pharmaceutical currently employs approximately 500 people in D-C.
In 2016, the company announced plans to relocate its plant in Union Station to its current location in the Capital Region, which will provide greater access to the region’s workforce.
In 2020, Global Pharmaceutical plans to expand its manufacturing capacity from three to six manufacturing plants and add 1,000 to 1,500 jobs to support its expanding manufacturing business.
“We are extremely excited to be moving our global headquarters to Washington and opening new factories across the country, which are the perfect place to build our global business,” said Schulz.
“The opportunity to expand our presence and jobs in the country is a tremendous one, and we are thrilled to be opening our headquarters to expand this global business here in D.-C.”