Generic drug maker expanding

Canada’s Apotex to add 150 jobs and US headquarters in Miramar

Apotex Corp., a Torontobased maker of generic pharmaceutical drugs, announced Wednesday it will expand with a new $184 million research center and manufacturing plant in Miramar, which will also be its U.S. headquarters.

The Canadian manufacturer already has about 230 employees in Miramar and nearly 90 in Weston. The company said it plans at least 150 new jobs in Miramar.

“We can leverage on that existing infrastructure,” said Jeremy Desai, CEO and president of Apotex. He said the company is outgrowing its current manufacturing operation in Miramar.

The new manufacturing plant will be hiring for research and development, manufacturing and administrative jobs, beginning with the R&D positions this summer, Desai said.

Apotex produces more than 260 generic pharmaceuticals. The company makes many statins, including a generic for Lipitor, as well as nasal sprays including a generic for Nasonex.

At its existing Miramar plant, Apotex makes transdermal patches, adhesive patches that deliver a dose of medication through the skin and into the bloodstream. That plant will remain open while employees in Weston eventually will be moved to the new Miramar building.

Apotex bought a 302,000-square-foot warehouse at 15501 SW 29th St. in Miramar for $50 million that will be built out to suit its needs. Desai said construction will be phased, with completion expected by early 2019.

For its planned investment in Miramar, Apotex has been awarded the state’s capital investment tax credit incentive of up to $154 million, tied to its capital investment and creation of at least 100 jobs, according to The Greater Fort Lauderdale Alliance, Broward’s economic development partnership.

Todd Holt, director of business development for the Alliance, said the capital investment tax credit was the best incentive to use because the company was willing to make a significant investment. It is an annual credit provided for up to 20 years against the corporate income tax.

The Alliance didn’t apply for any of the other incentive programs for Apotex, but Holt said that had nothing to do with the current controversy over the benefits of incentives programs. Proposed legislation in the state House of Representatives would eliminate the state’s incentive programs and economic development agency Enterprise Florida.

Apotex’s expansion is “further validation” of Broward as a desired location for pharmaceutical and related companies, Holt said. Apotex “is another company that’s going to strengthen the life sciences sector and our position in the industry,” he said.

Broward has 26 pharmaceutical manufacturers that employ more than 1,000 people, according to a report released Tuesday by Enterprise Florida.

Desai said competition is stiff in the U.S. market for generics. Apotex is competing for 2 percent to 3 percent of the generic pharmaceutical market, he said.

“It’s all about making sure we can launch new products when patents expire. We’re one of the companies that can be first to market with new products,” Desai said.