The North Carolina, US-headquartered services firm has begun work on the construction of a new 40,000sqft laboratory and technology centre at its base in Wilmington.
When completed the lab will provide microbiology, physical chemistry services, raw pharmaceutical materials testing and stability management services to AAIPharma's clients in the drug industry.
Additionally, AAIPharma plans to add a second production shift at its contract parenteral manufacturing facility in Charleston, South Carolina in the next few months again citing increasing customer demand for its services as the key driver.
CEO Patrick Walsh, said the investments are designed to ‘increase capacity and efficiency’ and are in keeping with the development of the wider outsourcing market.
“Pharmaceutical and biotech companies are expected to maintain or increase their level of outsourcing, we continue to see growth for a range of contract services in the pharmaceutical drug development industry and believe AAIPharma is well positioned to continue growing and increasing its market share."
Walsh’s contention fits with AAIPharma’s performance in the third quarter during which, the private-equity owned firm reported revenue increased around nine per cent.
“The excellent business results reflect our significant progress and investment in our people and facilities, along with AAI’s world-class scientific team’s ability to serve our clients development and manufacturing needs,” Walsh said.
“AAIPharma achieved record revenue in the third quarter of 2011, surpassing any previous quarterly performance since the company’s 2009 acquisition by Water Street Healthcare Partners.”
The Wilmington expansion follows just a few months after the launch of AAIPharma’s online testing services portal which, at the time, the firm predicted would generate additional business and streamline operations for customers.