The State Government has successfully attracted another Health Industries business to Adelaide, creating around 200 new jobs and injecting a massive $650 million into the state’s economy.
Biopharmaceutical company GEN1 Biotechnology Pty Ltd will build a fill-and-finish factory producing injectable medicines in Adelaide to serve both the Australian and international market.
The market for injectables in Australia is $10 billion a year and growing, while the global market is worth more than $230 billion a year and is growing at over 15%.
GEN1 is an Australian company backed by investors based in Asia and Europe, specialising in the global development of manufacturing plants for biopharmaceuticals.
Around 110 jobs will be ongoing, while around 40 will be created in the construction phase. Approximately 50 more local jobs are expected to be created through the supply chain.
The factory will be the first of its kind in Australia, making ready-to-use injectable medicines that are all currently imported.
Health Industries South Australia attracted GEN1 to Adelaide by helping them establish and securing a government partnership to support the company with early-stage establishment costs.
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