Douglas Pharmaceuticals begins work on $35MM Research and Development building
New Zealand’s largest pharmaceutical company, Douglas Pharmaceuticals, has begun work on a $35MM Research and Development facility.
The 4,500sq metre building is due for completion in August 2021 and will be linked by sky bridge to Douglas’ existing headquarters on the corner of Te Pai and Central Park Drive, Henderson. This will be the largest pharmaceutical R&D facility in New Zealand and a large investment in the local economy.
Douglas’ current R&D facility is housed in the manufacturing building (over the road from the headquarters). When it is relocated into the new facility it will free up space for further manufacturing expansion.
The new R&D building will house 120 people over three stories. The main focus of the new facility will be leading the development and registration of specialty generic medicines for US, EU and global markets plus working with university researchers and medical doctors to translate drug repurposing candidates through to proof of concept clinical trial studies and out-licensing to larger pharmaceutical companies for commercialisation.
Douglas employs 774 people over three sites in Auckland, Fiji and Pennsylvania. It has experience exponential growth over the past five years. Douglas exports to 38 countries.
In FY19 Douglas turned over $235MM in sales which is a 5% increase on the previous year. Over $35MM was invested into R&D and $15MM into expansion and renovation of plant and equipment in NZ, Fiji and USA
In FY20 a further $45MM will be spent on R&D, $35MM on the R&D building and $20MM into plant and equipment.
The company is aiming towards $500MM in sales by 2025.
Douglas Pharmaceuticals is a family owned business which was begun by pharmacist Graeme Douglas in 1967. The business is now managed by his son Jeff Douglas.