PharmaChem is expanding
Well... there is quite a bit going on in Grand Bahama and many announcements being made. Last week there were several announcements but today we will talk about PharmaChem. According to their release, "this new state-of-the-art facility, supported by Gilead Sciences Inc., will provide life saving drugs. The site on West Sunrise Highway was acquired by Mr. Pietro Stefanutti in 2002, and during the ground breaking he said the time has come to take another step ensuring that PharmaChem is a viable and sustainable operation for years to come. This expansion is said to be costing $130m, and also it is expected to generate an economic impact on Grand Bahama's economy of about $40-$50 million resulting in over 100 contractors being employed on the project. In an overview of the partnership with Gilead Sciences, Stefanutti said that in 2003, a non disclosing agreement was signed between the companies to determine to path for the manufacturing of an HIV compound on the...