Pharmaceutical company seeking buyer for local plant

Construction workers laid the foundation for the new $100 million expansion project at the Elanco facility in Augusta in February 2015. MICHAEL HOLAHAN/FILE

A pharmaceutical company is seeking a buyer for its Augusta plant that employs hundreds of people.

 

The Elanco manufacturing facility on Lovers Lane produces a drug that increases milk yields in cows. About 250 people staffed the location in 2014 when the company announced a $100 million investment it said would add 100 jobs to the Augusta plant over the next three years.

Now Elanco has announced what it calls a “strategic shift in its dairy portfolio” that includes selling the rights to the dairy cow supplement marketed under the name Posilac. Selling those rights also means selling where it’s made.

Elanco bought the Augusta plant in 2008 in a similar deal. Monsanto produced Posilac at the same location. When Elanco bought worldwide production rights to the drug, Monsanto transferred the plant to Elanco as part of the sale.

The agricultural trade publication Progressive Dairyman has reported that Elanco “will continue to produce and supply Posilac to meet customer demand” while the company looks for a potential buyer.

The Augusta Economic Development Authority ranks Elanco as one of the city’s largest manufacturing employers.

Elanco won the authority’s inaugural Industry of the Year award in 2015 for meeting or exceeding criteria that included economic impact, civic involvement and environmental stewardship.

Elanco also has been an active community partner in helping such nonprofits as United Way and Golden Harvest Food Bank.

Spokespeople for Elanco at its home office in Greenfield, Ind., could not be immediately reached for comment Thursday for details on the Augusta plant.

Reach Joe Hotchkiss at (706) 823-3543 or joe.hotchkiss@augustachronicle.com.

 

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Sun, 12/10/2017 - 19:42

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