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CoreRx, Inc. Announces Plans for Expansions to Meet the Needs of Growing Pharmaceutical Formulation Development Business
Date:6/15/2009

Formulation Development firm CoreRx announces new facility which will add capacity, additional capabilities to growing laboratory in order to meet growing customer demands.

Tampa, FL (Vocus) June 15, 2009 -- CoreRx, Inc. has announced plans to purchase a new facility which will more than triple the company's previous capacity and will accommodate projected growth through 2015.

The 80,000 sq ft building will be remodeled and up-fitted and expanded to ultimately house current staff plus fifty-five new employees. The founders of CoreRx intend to locate the company headquarters at the site, as well as utilize the space for contract manufacturing and formulation research and development. The additional jobs will include expanding the management team, research scientists, research and manufacturing employees, as well as staff for facilities and maintenance. Dr. Todd R. Daviau, President and CEO of CoreRx is hopeful that many of the employees can be hired locally. "I have been very impressed with the assistance that CoreRx is receiving on the state and local level. This is a very important step for our company. We are enthusiastic about the future of CoreRx as well as the positive contribution we hope to make to the community. We wish to express our sincere appreciation to the Greater Tampa Chamber Committee of One Hundred, and all of the County and State officials without whose dedicated efforts this project might not have materialized."

Work on the 80,000 sq ft building will begin in the near future. Plans for the $5Million renovation are being completed at this time. It is hoped that portions of the building can be occupied later this year and the entire expansion can be completed in about 18 months. The average projected wages for the jobs at the facility are projected to be in excess of $65,000.00 per year.

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