Saturday, July 5, 2014

JCB exec says company will stay put even with European acquisition; JCB Laboratories-A High-Tech Sterile Pharmaceutical Compounding Company--purchased by Fagron--JCB revenue increased 50 percent and former owner contributes it to the DQSA!!

At the beginning of the year, a European concern was quietly closing on its acquisition of Wichita’s JCB Laboratories, a high-tech sterile pharmaceutical compounding company that its top executive said has seen significant revenue growth over the past two years.
The acquisition came to light publicly this week following the publication of a Treasury Department report that highlighted the northwest Wichita company.
“We are not moving locations,” JCB president Brian Williamson said in an interview this week. “That was part of the deal, that JCB is staying here in Wichita. We are possibly looking at an expansion project here.”
Williamson and three other partners sold the company to Fagron, a 24-year-old pharmaceutical compounding company based in Rotterdam, the Netherlands, that operates in 30 countries.
Williamson declined to disclose financial terms of the transaction, which includes an arrangement that he remain JCB’s president for three years, he said.
Williamson, Kent Richardson and two unnamed partners owned the company that was launched in 2002. From its 8,100-square-foot building at 7335 W. 33rd St. North, the company compounds sterile drugs and solutions to health care providers across the country.
He said JCB’s gross revenue increased 50 percent between 2012 and 2013, and it’s on track to grow another 60 percent this year.
Williamson attributes much of the revenue growth to federal regulations signed into law last fall governing compounding pharmacies. The regulations followed a meningitis outbreak in 2012 that killed 64 people and made more than 750 people sick. The outbreak was traced to contaminated steroid pain injections produced at a now-closed Massachusetts compounding pharmacy. continue to read here

Read more here: http://www.kansas.com/2014/07/05/3540251/jcb-exec-says-company-will-stay.html#storylink=cpy

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