NJEDA approves about $60 million in tax credits to support Amneal expansion in Piscataway
Piscataway, Middlesex County, New Jersey — The New Jersey Economic Development Authority's board approved on Oct. 26 the award of about $60 million in tax credits under the Next New Jersey Manufacturing Program to Amneal Pharmaceuticals to support its manufacturing expansion in Piscataway. Amneal is headquartered in Bridgewater and was founded in Paterson in 2002 by brothers Chirag Patel and Chintu Patel; it is a global biopharmaceutical company focused on developing, manufacturing, commercializing and distributing affordable innovative medicines. The project involves more than $240 million in qualified capital investment over three years and is expected to create more than 330 full-time jobs, further consolidating New Jersey's position in pharmaceutical manufacturing nationwide. The expansion aims to support continued growth of Amneal's affordable-medicines business, including complex generics, women's health products and new product launches, as well as advancement of its biosimilars portfolio, and includes expanded manufacturing capacity for transdermal patches, biosimilars and injectable drugs. Amneal has more than 300 generic, specialty and biosimilar products and delivers more than 160 million prescriptions a year.
Source: GSM · USA (original Chinese edition)
Photo: 新泽西州议会大厦，CC BY-SA 4.0，来源 Wikimedia Commons
