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Continues significant St. Louis reinvestment
August 22, 2016
By: Tim Wright
Editor-in-Chief, Contract Pharma
Specialty pharma company Mallinckrodt unveiled plans to build out a new campus for its specialty brands organizations in the Somerset Financial Center, 1405-1425 Route 206, in Bedminster. Mallinckrodt will invest more than $80 million in New Jersey, and anticipates approximately 400 employees will occupy the new space in the first quarter of 2017. The company is also continuing its investment in St. Louis, MO, having recently begun the next phase of construction at its downtown St. Louis manufacturing facility—part of the more than $140 million in capital projects and related expenses it has invested in offices and plant locations that house Mallinckrodt’s legacy businesses and key administrative functions in the area. Having acquired multiple companies in 18 months, by late 2015, Mallinckrodt found itself with commercial and development operations spread across more than a dozen U.S. sites. The Bedminster, NJ, campus will consolidate operations for its specialty brands groups, co-locating more than 400 commercial and science employees focused on marketed and development products in its autoimmune and rare diseases and hospital businesses—growth platforms the company continues to build on as indicated by its recently announced acquisition. “As we began to transform Mallinckrodt into a specialty pharmaceutical organization, we acquired a base of established operations on the East Coast,” said Mark Trudeau, president and chief executive officer, Mallinckrodt. “With this base, and recognizing the important concentration of specialty pharmaceutical talent and intellectual capital in the area, we believe consolidating our specialty brands organizations in New Jersey provides compelling value. We believe the state will be a great business destination for the company.” As also noted, Mallinckrodt continues to reinvest in St. Louis, where the company’s roots date back nearly 150 years. Recent investment includes the commitment of more than $8 million for expansion of its downtown St. Louis manufacturing facility, as well as a $12 million site addition opened in mid-2015 to increase manufacturing efficiency. “For decades, Mallinckrodt has proudly maintained a significant presence in St. Louis, where many of us continue to live and work,” said Mr. Trudeau, “and we’re excited to reinforce that presence in this region with continued reinvestment.”
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