ChemWerth, a Woodbridge-based supplier and developer of generic drug ingredients, plans to celebrate its 40th year in business by expanding manufacturing partnerships in China and India, the company announced this week.
ChemWerth announced a “multimillion-dollar investment” in overseas manufacturing of active pharmaceutical ingredients (APIs) with the goal of diversifying its supply chain, developing new products and meeting global demand for generic drugs.
CEO Peter Werth said, “ChemWerth is entering an exciting period of growth, and we’re proud not only to be celebrating 40 years in business, but to be expanding our worldwide manufacturing footprint.
“Through the investments we’re making into our joint-venture facilities, we’re demonstrating our commitment to delivering affordable medicine to patients all around the world,” Werth said.
Partner manufacturers that currently produce steroid, hormone and veterinary products will benefit from the new ChemWerth investment, along with firms that produce large-volume APIs and small-molecule inhibitors, according to the company statement.
Founded in 1983, ChemWerth has filed more than 500 submissions with the FDA relating to drug manufacture. The company has partnerships in 38 countries and sells more than 100 products.
CEO Werth established the Werth Institute for Entrepreneurship and Innovation at UConn with a $22.5 million gift in 2017. He pledged $1 million in 2021 to establish the Werth Entrepreneurship and Innovation Center at Bridgeport’s Housatonic Community College.
Contact Liese Klein at lklein@newhavenbiz.com.
