Daiichi Sankyo is creating 82 jobs in Bethlehem, Pennsylvania, and investing $15 million to expand its facility there. The Japanese pharmaceutical company will establish a manufacturing and packaging operation in the Pennsylvania city.
"This move diversifies our capabilities and allows us to streamline our operations and minimize commercialization risk by exerting greater control over the life cycle of our products, from research and development through packaging and distribution," said Jeff Lane, vice president of operations at Daiichi Sankyo. "We are excited to be opening a facility in Bethlehem and look forward to a productive future working relationship and becoming a part of the local community."
The Lehigh Valley Economic Development Corp. and Northampton County helped the company obtain a $3.6 million funding offer from the commonwealth for the project. The package includes a $250,000 opportunity grant, a $2 million loan from the Pennsylvania Industrial Development Authority, a $1 million loan from the Machinery and Equipment Loan Fund, $100,000 in job training assistance and $246,000 in job creation tax credits.
The total project cost is estimated at $19.6 million. Daiichi Sankyo will create the jobs within three years. The company develops cardiovascular and oncological therapies.
McCallum Sweeney conducted site selection analysis and incentive negotiations for Daiichi Sankyo.