Catalent Pharma Solutions ($CTLT) is upgrading a Japanese plant to offer clinical supply services, extending its global network of depots.
The facility, a 200,000-square-foot plant in Kakegawa, has been open for 40 years, and Catalent is now reoutfitting it to double as a clinical supply operation, providing storage, labeling and distribution services. Construction is already underway, Catalent said, and the company expects to open its new supply depot by the second quarter.
Once online, the Japanese outpost will complement Catalent's existing packaging and supply operations in China and Singapore, the company said. In total, Catalent operates more than 50 depots, including older facilities in the U.S., U.K. and Germany.
"Catalent's site in Kakegawa will play a significant role in serving the market in Japan, the second largest pharmaceutical market worldwide and a key country for new global and domestic clinical trials," Catalent Clinical Supply President Wetteny Joseph said in a statement.
Catalent is expecting between $1.8 billion and $1.9 billion in revenue for fiscal 2016, which began July 1, projecting growth of up to 3.8%.
- read the statement