PharmaChem’s expansion estimated to cost $180m

PM Tour — The Prime Minister the Hon. Dr. Hubert Minnis and some members of his Parliamentary Team toured the construction site of PharmaChem Technologies LTD’s expansion. (Photos: by Jenneva Russell)

PharmaChem Technologies GB Limited’s expansion is now estimated to cost $180 million, and result in numerous jobs for Bahamians.

Prime Minister of the Commonwealth of the Bahamas, the Hon. Dr. Hubert Minnis said as much on Friday, when he toured PharmaChem’s construction site along with Parliamentary colleagues and personnel from the Grand Bahama Office of the Prime Minister.

The Prime Minister was accompanied by Minister of Youth Sports & Culture Michael C. Pintard; Parliamentary Secretary for Information and Communication in the Office of the Prime Minister, Pakesia Parker-Edgecombe; Parliamentary Secretary in the Ministry of Works Iram Lewis; Member of Parliament for Pineridge Frederick McAlpine; and Minister of State in the Office of the Prime Minister Senator J. Kwasi Thompson.

“They are expanding to the tune of about $180 million which would add an additional 80 Bahamian employees to their staff and they are recruiting individuals with chemistry backgrounds and other professional backgrounds,” he said.

He added that “this is beneficial for The Bahamas because we are training our people to have futuristic jobs.”

According to company statistics, since 2014 the amount of Bahamian staff at PharmaChem has increased by 71. By 2021, it is expected that 60 additional Bahamian staff members will be full time employees.

“Generally speaking, successful companies follow where there are successful companies so I’m sure in time we will see more growth and expansion,” said the PM..

PharmaChem Chief Financial Officer (CFO) Kevin Seymour informed that the expansion which was originally estimated to cost $120 million, after revision will now carry the $180 million tag.
The Prime Minister said that his government is very impressed with the company’s operation and pledges to continue to do all that it can to ensure the smooth running and construction of the expansion.

He stated that the company’s expansion exemplified the confidence in Grand Bahama’s economy.
He furthered that it was important to note the amount of emphasis placed on safety at the facility, with an ambulance being on the compound, although, fortunately there have been no accidents. The safety approach is in keeping with the company’s general outlook: “By keeping our focus on safety, quality, cost and delivery, we will continue to delight our customers now and in the future. Our mission statement drives our operations, goals, and day-to-day activities to ensure first and foremost, the health and safety of employees, bordering communities and the environment.”

PharmaChem would be developing new drugs and employees are required to wear personal protective equipment when necessary.

“PharmaChem is a fine chemical contract manufacturing organization (CMO), with resources to transfer process technologies from our customers to produce high quality bulk Active Pharmaceutical Ingredients (API) for Pharmaceutical products at the right cost and customer demand.

PharmaChem is contracted by Gilead Sciences Inc., a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical needs.

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