New Haven, CT — ChemWerth, a leading supplier of generic Active Pharmaceutical Ingredients (APIs), is celebrating its 40th year in business. To kick off this milestone anniversary, the company announced a multimillion-dollar investment into further expanding its manufacturing partnerships in China and India, which will allow ChemWerth to further diversify its supply and portfolio, develop new generic APIs, mitigate the risk of supply chain disruptions and position the company to meet the increasing global demand for generic pharmaceuticals.
“ChemWerth is entering an exciting period of growth, and we’re proud not only to be celebrating 40 years in business, but to be expanding our worldwide manufacturing footprint,” said Peter Werth, CEO, ChemWerth. “Generic medicine manufacturers play a critical role in expanding access to pharmaceuticals, and through the investments we’re making into our joint-venture facilities, we’re demonstrating our commitment to delivering affordable medicine to patients all around the world.”
According to Precedence Research, the global generic drugs market size is expected to grow from $439.37 billion in 2022 to $670.82 billion by 2030, growing at a CAGR of 5.4% over that period. Factors driving the market growth include the low cost of generics as an alternative, a large number of branded drug patents expiring and the increasing prevalence of chronic diseases.
ChemWerth’s investment will support its partner manufacturing facilities that currently produce steroid, hormone and veterinary products, as well as those that produce large-volume APIs and another that focuses on small-molecule inhibitors. The company plans to create new jobs for highly skilled workers such as scientists, engineers and manufacturing personnel. In addition to hiring employees, the investments will cover training that is required to raise compliance and quality to Current Good Manufacturing Practice (CGMP) standards and will be used to purchase new equipment.
Having filed more than 500 Drug Master Files (DMFs) in 38 countries, ChemWerth employs teams of regulatory and compliance experts with years of experience working with the Food and Drug Administration. The company routinely gains DMF approval on the first pass and is among best-in-class companies that are in the 12% approval group. ChemWerth’s regulatory experts proactively work with the company’s manufacturing partners to track and document the manufacturing process from starting material acquisition to exhibit batch production. As a full-service supplier, ChemWerth stays in contact with its finished dosage partners to ensure consistency and accuracy in all communications.
About ChemWerth:
Incorporated in 1983, ChemWerth is a world leader in developing and supplying specialty generic Active Pharmaceutical Ingredients (APIs) for human and animal health markets worldwide. The company, celebrating 40 years in business, continues to rank among world leaders for DMFs available for reference. ChemWerth is the regulatory agent for 25-plus FDA-approved facilities in the United States, Europe, India and China. The company sells 100-plus products in 38 countries around the globe. For more information about the company, please visit www.chemwerth.com.
