Drug maker Piramal Pharma Solutions to expand, invest $35M in Riverview
Pharmaceutical manufacturer Piramal Pharma Solutions plans to expand its operations in Riverview — a $35 million investment that will create 31 high-wage jobs, the Michigan Economic Development Corporation announced Tuesday.
The company will build a new facility on a property adjacent to its site at 18655 Krause St. The building will house manufacturing, laboratory and warehousing operations.
"The Riverview, Michigan site is an extremely important part of our global network, since it produces the active ingredients used in a number of developmental and commercial pharmaceutical treatments," Chief Executive Officer Peter DeYoung said in a statement Tuesday. "This expansion enables us to better serve our current customers and meet additional market demand for drug substances, including (high potency active pharmaceutical ingredients), furthering our efforts to reduce the burden of disease on patients around the world."
Piramal Pharma Solutions specializes in developing and manufacturing high-potency active pharmaceutical ingredients with a focus on cancer treatment.
The expansion announcement comes as the company receives a $200,000 Jobs Ready Michigan performance-based grant from the Michigan Strategic Fund in support of its expansion. The grant will help the company offer above-market salaries to attract and retain talent, officials said.
"Piramal Pharma Solutions' decision to expand in Southeast Michigan will create good-paying jobs for our talented workforce," Gov. Gretchen Whitmer said in a statement. "Their expansion underscores the strength of Michigan's business climate and continued leadership in manufacturing across industry sectors. This is great news for workers and their families as we continue our economic jumpstart and put Michigan back to work. With the help of companies like PPS, we can put Michigan first and build back our state's economy stronger than ever before."