Global pharmaceutical company selects Marietta for its first North American site, bringing 156 jobs and a $20 million in new investment.
Osmotica Pharmaceutical Corporation’s announcement that it will open its first R&D manufacturing facility in North America in Marietta is only the latest in a growing number of bioscience industry companies calling Cobb County home.
The global pharmaceutical company specializing in drug delivery technologies and neurology-based therapies is the third large bioscience-related corporation to relocate in Cobb in recent years, along with Quintiles Laboratories in Marietta and UCB, Inc. in Smyrna. Osmotica will invest $20 million in its new facility over the next five years and 156 new jobs. Many economic development partners, including the City of Marietta, The Development Authority of Cobb County and the Cobb Chamber of Commerce, worked with the Georgia Department of Economic Development to recruit the major operation.
“It’s not surprising Osmotica chose Cobb County,” said Charles Craig, Georgia Bio president. “The county has a high quality biosciences-related workforce in place and is fostering development of future bio-scientists through its strong middle and high school biotech programs.”
Georgia currently serves as a hub for pharmaceutical, biotechnology, medical device and diagnostics companies, and Cobb County is home to a growing cluster of bioscience companies. As a large and well-established corporation, Osmotica’s presence in Cobb reinforces the many reasons why biotechnology companies are locating here.
“Cobb is a one of Metro Atlanta’s largest bioscience markets – now home to Osmotica Pharmaceuticals, MyMedics and Quintiles to name a few of the many industry leaders represented in Cobb County. Our strategic location, cost of doing business, educational resources and transportation networks make the Cobb community a strong fit for any biotech company,” said Brooks Mathis, vice president of Economic Development at the Cobb Chamber of Commerce.
While many large corporations locate in Cobb County for its low cost of living, high quality of life and proximity to Atlanta, a key attraction for many bioscience companies is the access to a highly-trained workforce. With more than 42,000 college students annually enrolled in Cobb’s large institutions such as Kennesaw State University, Southern Polytechnic University and Chattahoochee Technical College, companies like Osmotica have a large pool of skilled talent to support industry growth.
Also in close proximity to Cobb are research institutions such as the Centers for Disease Control and Prevention, Emory University, Georgia Health Sciences University, Georgia Institute of Technology, Georgia State University, Morehouse School of Medicine and University of Georgia, all of whom have become global leaders in technology and innovation.
Osmotica’s selection of Marietta for its North American operations diversifies the area’s growing life sciences and biotechnology industry. A majority of these companies have only been around less than 10 years and have 50 or fewer employees.
“Marietta is very honored to have been selected as the site of the first North American plant of Osmotica Pharmaceutical Corp.,” said Bill Bruton, city manager, City of Marietta. “This innovative international pharmaceutical company could have located anywhere in America and their decision to locate in Marietta will have many positive impacts on our community.”
According to an industry analysis conducted by Georgia Bio and the Selig Center for Economic Growth, one in every 68 jobs in Georgia is related to life sciences, and salaries in this field are more than 50 percent higher than the average of all other industry sectors.
“The many high-paying pharmaceutical jobs will be a great boost to our local economy and having such a quality company as Osmotica in Marietta confirms that our city is a preferred location for industry leaders,” said Burton. “We would like to thank the State Economic Development Department and the Governor’s Office, along with all of our local economic development professionals for working so diligently to make this day a reality.”
About Osmotica Pharmaceutical Corp.
Osmotica Pharmaceutical is a multi-national group of privately owned pharmaceutical companies (Osmotica Group) specializing in neurology based drug therapies and innovative drug delivery technologies. Osmotica has a portfolio of products in various stages of development focused in the treatment of motion disorders related to CNS diseases such as Parkinson’s and Multiple Sclerosis. In addition, Osmotica has developed and received approval for numerous value-added and innovative products which utilize its Osmodex® family of controlled release drug delivery technologies. Osmotica’s proprietary drug delivery technologies also include other innovative combination drug therapy technologies. The Osmotica Group conducts its research and development in facilities in Budapest, Hungary and Buenos Aires, Argentina and has executive and administrative offices in Wilmington, N.C. The Osmotica Group has a track record of successfully developing and commercializing products in the US, Europe, South America and other countries around the world.
(Allegra-D® is a registered trademark of Sanofi-aventis U.S.)
For Media Information:
Amy Selby, Cobb Chamber Communications Manager
770-859-2350; 404-457-1498 [email protected]
Brooks Mathis, Cobb Chamber VP of Economic Development
770-859-2358; 404-831-2987 [email protected]
Beth Sessoms, City of Marietta Economic Development Manager
770-794-5717; 404-310-8111 [email protected]