Cook Pharmica Adding Jobs, Drug Line

Posted: Updated:
BLOOMINGTON -

Indiana's life sciences sector continues to grow. Bloomington-based Cook Pharmica LLC has announced plans to invest $28 million to expand its Monroe County operations and add up to 70 jobs by 2020. The company says it will renovate and equip its Bloomington facility in order to add a drug product line.

Cook Pharmica is a subsidiary of Cook Group. The company has already begun work on its new line, with hopes of having it up and running in early 2017. Cook says the beefed-up capacity will allow it to better serve the growing biopharmaceutical industry around the world.

The company currently employs 575 associates, and says it has already begun hiring. The Indiana Economic Development Corp. offered Cook more than $600,000 in conditional tax credits and training grants based on the growth plans. The city of Bloomington has also approved incentives.

The growth is just the latest sign of success for Indiana's growing life sciences industry. The state's life sciences initiative, BioCrossroads, says the sector has a $59 billion economic impact in Indiana, and employs more than 56,000 Hoosiers.

Much of the state's effort in the coming years will center around the $360 million Indiana Biosciences Research Institute, which will soon move into temporary space. Chief Executive Officer David Broecker hopes to have the first researchers in place in two or three months. Ultimately, he has plans for the center to move into larger, permanent space with room for up to 200 researchers and their teams.

The project is being funded by a combination of public, private and philanthropic sources. The Indiana General Assembly approved $25 million in funding, with the center raising a matching amount. Brocker expects, by the end of the year, to announce another $100 million in commitments.

  • Perspectives

    • The First Thing Nonprofit Boards Should Focus On: Member Engagement

      There is no shortage of literature on how to run a nonprofit and what the board of directors should be doing. Do a quick search for “grant writing advice” or “board meeting agenda” and you will easily find hundreds of resources. But if there is so much helpful information around, why is serving on a nonprofit board sometimes so draining? After founding two nonprofits, Musical Family Tree and the Speak Easy, as well as serving on several nonprofit boards...

    More
  • Most Popular Stories

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years. 

    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • Elanco is headquartered in Greenfield.

      Elanco to Acquire Bayer AG Animal Health Business

      Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has entered into an agreement with Bayer AG (ETR: BAYN) to acquire its animal health business in a deal valued at $7.6 billion. If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue. “Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings...