QuVa Pharma Announces Significant New Production Capacity Is Now Operational
SUGAR LAND, Texas, Sept. 26, 2018 /PRNewswire/ -- QuVa Pharma, Inc. today announced it has commenced manufacturing in newly completed Suites 4 & 5 at its facility in Bloomsbury, New Jersey, substantially increasing capacity of the overall QuVa Pharma business.
"We continue to experience significant business growth, and these two new compounding suites in New Jersey will allow an increase in our company total output of high quality compounded sterile preparations by more than 50%," said Stuart Hinchen, QuVa Pharma's co-founder and Chief Executive Officer. "Customer demand for compounded sterile medications sourced from FDA approved product is now the dominant driver of our future business, and this new capacity allows us to satisfy increasing customer demand for sterile sourced product well into 2019. Further capacity expansion in New Jersey is scheduled for 2019 that will serve continued accelerated growth through late 2019 and 2020."
Peter Jenkins, co-founder and Chief Development Officer, added, "The opening of the new compounding suites in New Jersey is part of our committed investment towards our near-term goal of having 240,000 sq.ft. of state-of-the-art cGMP compliant 503B registered manufacturing capacity. We believe we are raising the industry standards from both a quality and a capability standpoint. Our fully licensed national coverage of an extensive array of sterile compounded medications, sourced from both FDA approved pharmaceutical products and active pharmaceutical ingredients as starting material, gives us unrivalled capability to service customers including in times of drug shortage."
"Bain Capital, our other partner shareholders, and our external financiers Silicon Valley Bank and Oxford Finance, are very pleased to be part of this truly remarkable growth story," said Jeff Schwartz, a Bain Capital Managing Director. "The management team continues to deliver on their promise of bringing reliable, high quality compounded sterile preparations to the acute care hospital setting to service patient needs, even in times of drug shortage."
QuVa Pharma is the market leader in quality compliant compounded sterile products with all three existing manufacturing facilities in Sugar Land and Temple, Texas, and Bloomsbury, New Jersey in good standing with the FDA and all state regulatory boards of pharmacy. QuVa Pharma is licensed to supply compounded preparations into all 50 states, and has a comprehensive range of ready-to-use compounded products, including product compounded from bulk drug substance to alleviate drug shortages.
About QuVa Pharma, Inc.
QuVa Pharma is a nationally recognized company emerging as the industry leading 503B platform and partner of choice for compliance-oriented healthcare facilities looking to ensure a quality, safe and consistent supply of medications. The Company offers a broad portfolio of products across Pain Management, Anti-infective, OR Syringes, Labor and Delivery therapeutic areas amongst others, all of which are released only once sterility and potency testing is successfully complete, and with validation supporting appropriate BUD. The company is committed to having a patient-first orientation, as well as a robust product portfolio, leading safety standards, and collaborative, partnership-oriented customer service. For more information, visit www.quvapharma.com.
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