DSM/Patheon Deal Hits 3 NC Regions
|Massive DSM manufacturing campus in Greenville. Courtesy of DSM|
Pharmaceutical workers in North Carolina’s three leading life science regions are hopeful that an unfolding corporate transformation will bode well for job retention – and possible expansion.
The Dutch parent company of DSM Pharmaceuticals, whose Greenville factory is the largest contract manufacturing facility in North America, is merging with Patheon, the Durham-based company that bought Banner Pharmacaps in High Point for $255 million in December 2012.
The name of the new post-merger global pharma company has not yet been made public. Corporate officials say the $2.6 billion deal will result in a privately owned global conglomerate with a major impact on North Carolina's Eastern, Triangle and Triad regions. With some 8,300 employees, it will be one of the top three contract manufacturers in the industry.
The new company will be headquartered in Durham, retaining Patheon CEO Jim Mullen at the helm. New York private equity firm JLL, already a majority owner of Patheon, will own 51 percent of the new company to DSM’s 49.
DSM, which has invested more than $160 million since 2001 to expand and modernize, has twice been named Pitt County Industry of the Year – first in 2007, and again in February 2013. In 2012 alone, DSM added 139 jobs at its Greenville site.
The 1.5-million-square-foot complex, spread across 29 buildings on 640 acres, is a leading facility for the manufacture of aseptic liquid fill, lyophilized products and oral dosage forms, along with related services.
Banner, which reportedly has about 500 employees at its High Point headquarters campus, is the world's second-largest pharmaceutical business focused on delivering proprietary softgel formulations that make oral medications easier to swallow.