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| Catalent's Wetteny Joseph |
Catalent Pharma Solutions ($CTLT) is building up its clinical supply capabilities in Asia, expanding a Singapore facility as it works on a sizable expansion in Japan.
The company said it's investing $4.6 million in an existing supply depot in Singapore, adding space for packaging, doubling its ambient storage and quadrupling its cold storage. The site has been in operation since 1998, Catalent said, and has since served as the company's hub for supplying clinical trials around the continent.
The move comes a few weeks after Catalent moved to upgrade a plant in Japan to offer supply services. Last month, the company began work on an effort to expand its Kakegawa manufacturing plant into a supply outpost, providing storage, labeling and distribution services. Catalent expects to bring the Japanese site online by the second quarter.
"Customer demand at the (Singapore) site has increased by 30% over last year, and this expansion, coupled with our recently announced opening of a facility in Japan, will allow Catalent to better support multinational customers' growing trial's needs, while providing more flexible solutions for local customers in the region," Catalent Clinical Supply President Wetteny Joseph said in a statement.
In total, Catalent operates more than supply 50 depots, including older facilities in the U.S., U.K. and Germany.
Catalent has projected between $1.8 billion and $1.9 billion in revenue for fiscal 2016, which began July 1, amounting to growth of up to 3.8%.
- read the statement