QuVa Adds New Jersey Manufacturing Facility
- Jul 26, 2016
New York—Recently formed platform QuVa Pharma has announced that it is acquiring a biotech pharmaceutical facility in New Jersey. As a result, the company will add to the two manufacturing facilities that it currently operates in Texas. Dealing mostly with sterile compounding pharmacy services, the company was recently given a shot in the arm in the form a Bain Capital Private Equity majority equity commitment meant to fuel its expansion.
Located near Route 78, with close proximity to the I-95 corridor and easy access to the Newark Liberty International Airport, the new facility totals 160,000 square feet of space. The asset’s position is key to QuVa’s investment. “By deliberately establishing our presence at the confluence of robust interstate commerce, we are ensuring that major hospitals and health systems have access to a high-quality alternative for compounded drugs,” QuVa Pharma Founder & CEO Stuart Hinchen noted in a statement.
Slated to begin operations at full capacity in mid-2017, the facility will undergo changes that will bring it in line with FDA requirements for sterile manufacturing. The owner expects to add around 100 new employees as soon as the facility is operational. Given its position, the facility will offer QuVa access to Pennsylvania and Ohio to the West, New York to the East, New England to the North, as well as D.C. and Southeastern markets.
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