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NORWICH PHARMACEUTICALS PURCHASED BY AFI PARTNERS
Christopher R. Calhoun, president of Norwich Pharmaceuticals, a pharmaceutical outsourcing manufacturing and packaging provider, today announced that the company has been purchased by AFI Partners. Upon completion of the sale, the company is now named Norwich Pharmaceuticals, Inc.
Operations at the Norwich, NY facility will continue uninterrupted. The current leadership team will remain in place, and continue to manage the business. All current employees will also remain with the new company.
Since its inception in 2001, the Norwich operation has grown substantially, and the work force has grown with it. Employment at the plant increased 70%, from approximately 250 people in 2001, to the roughly 425 people which it employs today.
Upon making the announcement, Calhoun stated, “For more than 120 years, Norwich Pharmaceuticals has played a significant role in the Norwich and greater Chenango County economies. We expect to be a continued source of stability and growth in the region.”
“We are excited to begin the next chapter of our company’s history with AFI Partners,” added Calhoun. “Our focus will remain on providing best-in-class services to our valued customers in the pharmaceutical business. We have demonstrated that we have highly competent people who can provide the quality and service demanded by the industry, with a high level of regulatory expertise, at a value level that our customers expect. With the support of AFI, we will be able to continue to make the necessary investments in the operation to remain at the forefront of our industry.”
E. J. Antonio, Managing Partner at AFI, stated, “AFI brings considerable manufacturing expertise to Norwich, in addition to a shared vision for long-term growth. We are fully prepared to make the necessary investments that will expand Norwich’s capacity and capabilities. We look forward to working with the Norwich team, as we build a strategy that will maximize the company’s potential.”
For more information, please contact:
Bob Calabro
Norwich Pharmaceuticals, Inc.
6826 State Highway 12
Norwich, NY 13815
Tel. 610-918-8510
Fax. 610-918-8502
E-mail. bob.calabro@norwichpharma.com
