Riding the wave of growth in outsourced drug manufacturing, BioReliance Corp. of Rockville said yesterday that it will build, with help from the state, a new viral production facility about two blocks from its headquarters on Blackwell Road.
The site will house BioReliance subsidiary Magenta Inc., a contract manufacturer of gene therapy, viral vaccine and viral cancer therapy products.
Mike Thomas, chief financial officer of BioReliance, said the facility will cost between $20 million and $40 million and should be operational next year.
BioReliance received a $3 million loan from the state's Sunny Day fund that will be interest-free if the company adds at least 392 jobs in the state by the end of 2003. If it falls short, the interest rate would be between 3.75 percent and 7.5 percent.
The company, which has six facilities in Maryland, two in Germany and two in Scotland, had $47.9 million in sales in its fiscal year ended Dec. 31, up 27 percent from $37.7 million in 1996.
Outsourcing of drug testing and manufacturing is expected to expand into a $650 million market by 2000, a 20 percent annual growth rate.
Pub Date: 6/16/98