Manufacturing News

Pharma manufacturing unit to open by 2014

Cyclopharm Limited, a radiopharmaceutical company, has entered into a three party agreement with Queensland Mater Misericordiae Health Services and Queensland X-Ray to establish a cyclotron manufacturing unit at the South Brisbane Mater Hospital by 2014.

The announcement is step forward for Australia's pharmaceutical manufacturing industry, particularly in radiology section, and will lead into a high growth Queensland FDG (fluorodeoxyglucose) market.

According to the company "the facility will produce pharmaceuticals used in positron emission tomography (PET)".

"The deal will ensure Australia’s growth in the pharma manufacturing sector as a leading provider of FDG and emerging PET radiopharmaceuticals," Cyclopharm said.

However until the Brisbane facility is operational the company will continue to supply Queensland X-Ray's FDG requirements from its existing Sydney facility.

The company announced the designated land has been acquired by MMHS and has received the approval by the respective boards.

The deal is estimated to range between $5 million to $7.5 million.

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