September 19, 2023 – Rising Pharmaceuticals announced the opening of a commercial manufacturing facility in Decatur, to manufacture and package sterile products, including injectables and ophthalmic products.
The site, which previously housed Akron Pharmaceuticals, comprises a manufacturing and packaging facility spanning a combined 230,000 square feet. The Company, based in New Brunswick, New Jersey, paid $1.2 million for the former Akorn facilities in June after Akorn’s abrupt closure following bankruptcy. Rising Pharmaceuticals also paid $50,000 for the former Akorn packaging facility on Wyckles road.
“Rising Pharmaceuticals is proud to play a significant role supporting the healthcare system by producing more than 180 commercialized generic medicines and over 620 active SKU on the market. With one of the broadest portfolios of any U.S. generic pharmaceuticals company, we recognize that expanding manufacturing capabilities in the U.S. is mission-critical for our continued commercial success, as well as for public health in general,” said Vimal Kavuru, CEO of Rising Pharmaceuticals. “The new facility will adhere to stringent quality standards to produce generic medications that are effective and cost-efficient.”
“We look forward to creating a model of sustainable development through our partnership with the Decatur community, balancing efficient U.S. manufacturing growth while competing in the global pharmaceutical supply chain,” said Steven Coventry, Vice President of Operations and General Manager, Rising Pharmaceuticals. “Our facility is reemerging from a prior closure and has been a staple of the Decatur community since 1952. We anticipate that the new site will help create jobs, economic growth, and enhance healthcare accessibility.”
Coventry said Rising Pharmaceuticals’ Decatur facility is now operational and manufacturing is expected to begin sometime next year.
When asked about former Akorn employees, Coventry stated that there have been a number of initial hires, which include former Akorn employees and individuals from the greater Decatur area. “Rising Pharmaceuticals is working to recruit individuals with specific pharmaceutical expertise, which will be a blend of former Akorn employees and external candidates with key areas of experience. ”
