Amneal Pharmaceuticals Reaps $2.5M in Kentucky Incentives
05/11/2010
"In addition to compelling economic incentives, we recognized that the superb quality and dedication of Glasgow's work force is a key factor in Amneal's reputation for service excellence, so the decision to stay and expand operations in Kentucky was an easy one," said Jim Luce, Amneal executive vice president of sales and marketing.
The Kentucky Economic Development Finance Authority has pre-approved Amneal for tax incentives up to $2.5 million through the Kentucky Business Investment program.
Amneal plans to use the funds to consolidate distribution logistics and sales in a 115,000-square-foot Glasgow facility. It will combine distribution that currently exists in Long Island, New York and Fountain Run, Kentucky. The company develops, manufactures, and distributes generic pharmaceuticals. It is the tenth largest supplier of generic drugs in the country in terms of prescriptions dispensed.
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