NEW YORK – Contract manufacturing and development firm Almac Group said Thursday that it will invest £80 million (about $97.1 million) to expand its diagnostic and pharmaceutical manufacturing and production facilities at its Craigavon, Northern Ireland headquarters.
Company officials said that total includes £15 million for constructing a 40,000-square-foot Almac Diagnostic Services facility to develop and manufacture companion diagnostic kits, with anticipated completion in the first quarter of 2024. The facility will also expand the company's biomarker discovery, assay development, and manufacturing and distribution capabilities and help the firm meet growing demand for its companion diagnostics.
The Almac Group also plans to spend £65 million for a 100,000-square-foot Almac Pharma Services manufacturing facility that will become operational in the third quarter of 2024. It will be used to support the company's global partnerships through its work on drug development, manufacturing, and commercialization, especially the firm's solid oral dose products.
Almac Diagnostic Services President Paul Harkin said in a statement that Almac Diagnostic Services is committed to providing cutting-edge molecular diagnostics for its biopharma clients and the company's services encompass biomarker discovery through clinical trials.
"This investment and expansion of our laboratory and manufacturing capabilities allows greater capacity to keep up with growing demand for our range of diagnostic services, ensuring that Almac continues to play a leading role within precision medicine," he said.