Pharma Medica Research Invests More Than $30 Million To Create St. Charles, Missouri Facility
Area Development Online News Desk (10/03/2013)
Pharma Medica Research, Inc., a Canadian-based contract research organization serving the pharmaceutical and biotechnology industry, plans to make a $30.8 million capital investment and create 320 jobs at its first U.S. facility in St. Charles, Missouri.
The Toronto-based company conducts research and development for pharmaceutical companies as well as performs trials. They offer a wide range of services including; scientific affairs, medical writing, clinical conduct, bioanalysis, biostastics, data management, and clinical trial monitoring. The company plans to rehabilitate a building in St. Charles that previously housed a clinical research organization to expand their drug trial operations.
"The favorable business climate, quality workforce, and the close proximity to major pharmaceutical companies in the area were key factors in making the move to Missouri," said Mohammed Bouhajib of Pharma Medica Research Inc. "With a new research center in St. Charles, we will be able to accommodate more clients and compete in the global market."
"This substantial investment will further strengthen Missouri's position as a leader in bioscience, one of the key industries identified by our Strategic Initiative for Economic Growth," Gov. Jay Nixon said. "By creating hundreds of high-paying jobs to this area, Pharma Medica Research joins other bioscience companies expanding their footprint in the Show-Me State including Monsanto, Pioneer Hi-Bred, and Boehringer-Ingelheim Vetmedica. By maintaining strict fiscal discipline and using proven strategies to attract new businesses to our state, we are paving the way for continued growth and job creation.”
To assist Pharma Medica Research Inc. in moving forward with its growth plans, the company has been offered a strategic economic incentive package from the state of Missouri that it can receive if it meets strict job creation and investment criteria.
"We are delighted to have Pharma Medica Research Inc. join our business community here in the city of St. Charles,"said Mayor Sally Faith. "Their presence in the field of clinical research will further diversify and strengthen the local workforce, enhancing an already solid health care and manufacturing base, and further bolstering economic development through job creation."
"We were pleased to partner with the City of St. Charles, the Missouri Partnership and the Missouri Department of Economic Development on this major economic development project, resulting in Pharma Medica Research's intention to create these high quality jobs," said St. Louis Regional Chamber President and CEO Joe Reagan. "Bioscience is one of the industries where the St. Louis region has authentic strength. Pharma Medica's investment in our region is clear affirmation of the region's potential as a national leader in biosciences."