March 16, 2020
Thursday, October 2, 2014
Pharmaceutical company will create at least 45 jobs high-skilled positions
FORT LAUDERDALE, Fla. – Today, Lupin, Inc., a research-oriented pharmaceutical company headquartered in India, announced the expansion of its operations in Coral Springs. The project will create at least 45 high-skilled positions in Broward County.
The company has settled into a space in Coral Springs with plans to open a new laboratory by the end of this year. Lupin’s new facility will focus on the research and development of new drugs, bolstering Florida’s booming life science industry with its portfolio of generic and branded medicines.
Lupin’s Senior Vice President of Inhalation Research and Development, Dr. Xian-Ming Zeng, cites the ability to recruit high-quality scientists from the South Florida area as a strong motivator behind the decision to expand to South Florida. “Florida is perfectly positioned for Lupin to thrive. There is a unique opportunity to collaborate with the area’s universities and explore long-term recruitment solutions. Not only does this mean the cost of recruiting is lower but the resulting candidates are highly-trained and desirable as employees.”
Lupin is a U.S. owned subsidiary of Lupin Limited, a research-oriented pharmaceutical company that is headquartered in Mumbai, India. In the U.S., Lupin is the 5th largest generics player by prescription. Lupin’s Florida-based facility will focus on inhalation products for the treatment of asthma, allergic rhinitis, chronic obstructive pulmonary diseases and other lung diseases.
“The United States is a world leader in life sciences,” stated Dr. Zeng. “Lupin’s facility in Florida demonstrates a commitment to provide high quality and affordable pharmaceuticals to patients all over the world.”
Some of the nation’s most highly regarded research centers are located around the state, making Florida’s life science industry one of the best in the country. Nearly 1,000 biotech, pharmaceutical and medical devices companies, and more than 44,000 healthcare establishments are in Florida.
Enterprise Florida President and CEO, Gray Swoope, said “Lupin’s investment in a new research and development laboratory will elevate Florida’s life sciences industry. This expansion helps position the state as the number one place for business. We are proud to see Lupin grow worldwide and find a home in Florida.”
This project was the result of close partnerships between Enterprise Florida, the Greater Fort Lauderdale Alliance, Broward County, CareerSource Florida and the Florida Department of Economic Opportunity.
Florida Department of Economic Opportunity Executive Director Jesse Panuccio said, “Lupin’s selection of South Florida for their research and development facility is an exciting addition to the state’s growing life sciences industry. With the company’s creation of 45 new high-skill jobs, capital investment in the area, and increasing notoriety in their field, this expansion will contribute to Florida’s remarkable economic turnaround story.”
As part of the project, CareerSource Florida has offered Lupin performance-based partial reimbursement grants for employee training through the Quick Response Training (QRT) program. QRT grants are structured to be flexible and responsive to the training needs of new or expanding businesses.
Chris Hart IV, President and CEO of CareerSource Florida, said, “We are glad to assist Lupin with its training needs as it brings dozens of high-skill positions to Florida, and excited by the opportunity to be part of a project that leverages the talent of Florida’s growing research community and top-notch universities.”
City of Coral Springs Mayor Vince Boccard said, “We are very excited to welcome Lupin, a transnational pharmaceutical company, to the City of Coral Springs Corporate Park. The City is well positioned to support Lupin’s growth initiative in the specialty pharmaceutical market. We’re open for business and we’re glad Lupin is joining us.”
Bob Swindell, president and CEO of the Greater Fort Lauderdale Alliance said, “We are extremely happy that Lupin decided to expand in Coral Springs and welcome their expansion in Broward County. The company’s decision to grow here is a testament to the strength of the pharmaceutical industry in Broward County and our diverse and talented workforce. Lupin will certainly be an important part of our strong life sciences industry cluster and we wish them every success in their new location.”
Lupin Limited is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations as well as biotechnology products and APIs globally. The Company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership positions in the Anti-TB and Cephalosporin segment. Lupin is the fastest growing generics player in the US (5.3% market share by prescriptions, IMS Health) and the 3rd largest Indian pharmaceutical company by sales. The Company is also the fastest growing top 10 generic pharmaceutical player in Japan and South Africa (IMS). For the financial year ended March 2014, Lupin’s consolidated turnover and profit after tax were $1.8 billion and $304 million respectively.