Incog BioPharma, a sterile injectables CDMO, plans to shell out around $200 million to boost production capacity at its Fishers, Indiana, manufacturing site.
The company expects the project to add about 1,000 new jobs at the facility by 2030. Work on the expansion at the 21-acre campus is scheduled to begin early next year, the company said in a Dec.16 press release. It will grow the site to about 300,000 square feet.
“The continued demand from our global biopharma partners and our team’s ability to deliver create the opportunity for this next level of investment and expansion,” Cory Lewis, Incog’s chief executive, said in a statement.
When competed, the facility is forecast to be capable of churning out up to 480 million units a year, supporting Incog’s goal of garnering more of a share of the global injectables market.
Incog’s expansion is also being supported by incentives from the state of Indiana, though no dollar amount from the state was disclosed in the release.
“This major investment further positions us as one of the nation’s top hubs for innovative drug development and will bring hundreds of new, high-paying jobs to our state,” Mike Braun, Indiana’s governor, said in the release.
Incog, which was founded in 2020, pumped $125 million into the facility last July, adding a 100,000-square-foot production building That project added more than 100 new jobs the the plant.
Incog got its initial start out of the COVID-19 pandemic when demand for sterile injectable capacity exploded. By 2022, the company had built its first 90,000-square-foot manufacturing facility for $90 million.