BUFFALO, NY (Release) - Contract Pharmaceuticals Limited, a manufacturer of liquids,creams and ointments for name-brand and generic drug companies,announced today that it will close its Buffalo plant at the end of2011 and consolidate operations into its Mississauga, Ontariofacility. The Buffalo plant employs 260 people.
CPL purchased the former Westwood-Squibb Pharmaceutical complexat 100 Forest Ave. in 2005 from Bristol-Myers Squibb Co. At thetime, CPL hired the existing 200 employees and then added 60 newjobs over the following five years and invested more than $4.5million in the site.
In the intervening period, the global economic downturn led manydrug companies to slow their drug development while at the sametime pharmaceutical companies elected to manufacture more productsin-house to fill their own plants. As a result, capacityutilization at the site has remained low.
“This was a very difficult decision to make,” saidKen Paige, CPL’s CEO. “When we acquired the facility,we believed that we could attract significant new business to fillmuch of the excess capacity. But given the current slower growth inthe pharmaceutical outsourcing market, we never got to theproduction levels we needed for long-term economic success.
“Our concern now is first, to make sure that we’regiving our employees ample notice and supporting them to find newwork; and, second, to ensure that our customers continue to beprovided with the excellent quality and service they’ve cometo expect from our Buffalo operations.”
CPL will offer displaced employees severance packages andoutplacement programs. Discussions will also commence within theWestern New York health-care and manufacturing communities toassist CPL staff in finding new jobs. Employment will be reduced inphases from now until the end of 2011 as contracts expire andcertain products are moved to its Ontario manufacturingfacility.
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