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Acquisition of Texas facility to add 60,000 square feet of manufacturing space to company’s footprint
Alora Pharmaceuticals, LLC, the parent company of six specialty pharmaceutical and pharmaceutical manufacturing companies, has acquired Monarch PCM’s’s manufacturing plant in Fort Worth, TX, through its subordinate, Sovereign Pharmaceuticals. Obtained through bankruptcy proceedings, the deal features all of Monarch’s equipment. The agreement also includes a takeover of the leased space.
This acquisition is expected to add 60,000 square feet of manufacturing space, bringing Alora's total manufacturing footprint to over 300,000 square feet. Further, 48 employees will be joining the Alora team, along with those of its subsidiaries across the US.
"The acquisition of the Monarch assets will significantly improve our ability to manufacture solid, semi-solid and liquid manufacturing in large volumes," notes Art Deas, CEO of Alora. “ … This is a strategic acquisition that will provide significant opportunities for Alora and our contract manufacturing volume and capabilities.”
Read more about the acquisition here.