A start-up manufacturer of generic medications plans to open a $31.3 million facility, and hire 100 workers in Fayetteville.
The company, called OurPharma, this week announced plans to build the new manufacturing facility on a 14.9 acre site in the Fayetteville Commercial park.
The start-up will initially focus on creating compounded medications necessary for hospitals and clinics, with plans to expand into the generic drug market by focusing on products such as insulin. According to their website, the company was created in part due to the founders first-hand experience with patients locally and nationally who experienced difficulty obtaining medications they needed.
“We want to fill a great need for generic drugs locally, in the region, and nationally by starting with compounding, and then progressing into the manufacturing of generic pills, tablets and capsules,” Our Pharma CEO Peter Kohler said in a news release issued this week. “Our goals are to be a major generic drug company over the next decade and to provide affordable and much needed medications to the patients.”
OurPharma is a new company headquartered in Fayetteville. In addition to Kohler, the management team includes Dr. Ramona McLean, COO; Brooke Culp, CFO; and Adam Kohler, Vice Chair of the Board.
The company will hire 10-12 new employees initially, with plans to expand to more than 100 employees in the next seven years.
Construction for the facility is expected to begin this winter.