FarmaKeio Custom Compounding, a pharmaceutical company based in Richardson, Texas, has acquired a facility in Conway, Arkansas, with an investment of nearly $2.3 million. The facility, previously owned by US Compounding, is equipped with advanced compounding and laboratory equipment. This acquisition is expected to create 74 new jobs in the community. FarmaKeio specializes in compound pharmacy and is licensed in 48 states and Puerto Rico. The company aims to expand its reach to more markets and has plans to develop the facility to accommodate a second location. Local officials and the Conway Area Chamber of Commerce have welcomed the acquisition, recognizing the positive impact it will have on the local economy and manufacturing sector. Governor Sarah Huckabee Sanders also congratulated FarmaKeio and emphasized the importance of private sector investment in Arkansas' economy. [c470cd13]
Conway, Arkansas is focused on attracting businesses to the city and utilizes available incentives to drive economic development. The Conway City Council recently approved industrial development revenue bonds for International Paper Company and Westrock Beverage Company. The bonds will be used for expansion and renovation projects. The International Paper Company bond will fund a lithographic press and sheeter, roof improvements, and plant modifications. Westrock Beverage Company will use the bonds for the renovation of the former Kimberly Clark facility. The city council also endorsed the participation of Westrock and Farmakeio Custom Compounding in the Tax Back Program, which provides tax refunds for building materials and equipment. The chamber of commerce expressed gratitude for the city's support in attracting businesses and facilitating job creation. Conway is known for being aggressive and accommodating in attracting business. [cc6f7af1]
In another development, Kyowa Kirin, a Japan-based global specialty pharmaceutical company, has announced plans to invest $200 million to establish its first North American pharmaceutical manufacturing operation in Lee County, North Carolina. The company aims to build a biologics manufacturing Centre of Excellence in Sanford, US, creating 102 jobs. This investment is part of Kyowa Kirin's global manufacturing network and will support the production and supply of targeted clinical and commercial biologic therapies. The project is expected to be completed in four years. The North Carolina Department of Commerce supported the company during the site evaluation and decision-making process. The project will be facilitated by a Job Development Investment Grant (JDIG) awarded to Kyowa Kirin North America Manufacturing, LLC, which is estimated to grow the state's economy by $1.05 billion over the 12-year term of the grant. Governor Roy Cooper expressed his satisfaction with Kyowa Kirin's decision and highlighted the success of North Carolina in attracting Japanese companies. This investment by Kyowa Kirin is the third Japanese company to select North Carolina for its operations since Governor Cooper's participation in the annual Southeastern United States/Japan Economic Development Conference in Tokyo in October 2023. [3faaff87]
AAR Healthcare, a leading healthcare provider in Kenya, has launched a new outpatient centre (OPC) in Kamakis, Kiambu county, as part of its expansion drive. The centre, housed at Nexus Business Centre, will offer a wide range of healthcare services, including dental lab and pharmacy services, diagnostic services, and consultations with skilled medical specialists. The new centre represents AAR Healthcare's commitment to expanding access to quality healthcare services and meeting the healthcare needs of the community. The Competition Authority of Kenya recently approved Hospital Holding Limited's acquisition of 54.237% of AAR Health Care Holdings Limited in a KSh 1.5 billion deal. AAR Healthcare currently operates over 40 clinics across the East African region, with a market share in Kenya estimated to be 0.6%. [982eada5]