A Bristol Township pharmaceutical company is expanding its manufacturing operations with support from state funding.
Advertisements
Apozeal Pharmaceuticals Inc., which is located on Hartel Street, will add new production lines at its 70,000-square-foot facility, the company announced.
The expansion will add 70 new jobs and retain 22 existing position in the township over the next three years, according to state officials.
Gov. Josh Shapiro’s office said the company will receive $1.1 million in state aid, including a $925,000 Pennsylvania Industrial Development Authority loan, a $150,000 Pennsylvania First Grant, and a $100,000 WEDnet grant for worker training.
Advertisements
“We’d like to thank Gov. Shapiro and his team for their support and investment of $1.1 million towards this expansion,” said Sadath Shareef, Apozeal’s chairman and CEO. “Their support was instrumental in helping bring this project to life.”
Shapiro said the company’s growth strengthens Pennsylvania’s life sciences sector.
Advertisements
“My administration is committed to supporting the life sciences industry and the thousands of Pennsylvanians working in this doing critical, life-saving work industry,” Shapiro said in a statement.
Apozeal currently holds 11 FDA-approved Abbreviated New Drug Application (ANDA) products and several over-the-counter items.
The company presently produces four of these products, and the expansion will enable it to manufacture the remaining seven ANDA products and additional over-the-counter products.
Advertisements
Apozeal acquired the Bristol Township facility in 2023 with the goal of producing its FDA-approved products domestically.
The company lists on their website that they offer research and development, analytical, consulting, manufacturing, packing, and drug development services.
Advertisements
Apozeal Pharmaceuticals has its roots in Biopharm Inc. The contract drug maker was purchased in 2018 by Torrent Pharmaceuticals Inc. and Apozeal started off recently.
The company has a goal to produce 100 percent of its products in America.
Advertisements
According to the state, Pennsylvania’s life sciences sector employs more than 100,000 people at nearly 3,100 companies.
The state anticipates 6,500 new jobs in the sector over the next decade.
Advertisements
“Apozeal’s investment is another great example of the growth we’re supporting,” said Pennsylvania Department of Community and Economic Development Secretary Rick Siger.
Advertisement
Meet Your Canna Coach: Personalized Guidance, Free for You!
Canna Remedies: Your Go-To Accessible and Convenient Dispensary
Shop Now: cannaremediesnj.com/shop
Advertisements
Report a correction via email | Editorial standards and policies
