Garibaldi assists QuVa Pharma in Location of FDA 503B Registered Facility
QuVa Pharma, Inc. a national supplier of sterile compounding services, announced recently that it has received FDA registration as a 503B facility for its Bloomsbury, New Jersey facility. The Bloomsbury facility was purchased in October 2016 and was executed by The Garibaldi Group’s Corporate Services team of Jerry Moore, Chuck Bower, Scott Garibaldi, as well as company President Jeff Garibaldi.
Sterile compounding is a highly specialized type of pharmaceutical, therefore, finding a suitable location that provides access to educated and trained pharmaceutical labor in this sector is critical.
“The site selection process was exhaustive and included multiple states in the northeast,” said Jerry Moore, Senior Managing Director at The Garibaldi Group. “The Bloomsbury location was ideal given that it is situated between Eastern Pennsylvania and New Jersey along the Interstate 78 corridor, which provides immediate access to a deep pool of pharmaceutical and biotech labor.”
In addition, the property offered close proximity to major hospitals, research centers, and academic institutions, and New Jersey boasts the highest concentration of scientist in the United States, which QuVa hopes to take full advantage of as well.
“The role Garibaldi played on behalf of QuVa was invaluable”, commented Stuart Hinchen, QuVa Pharma’s co-founder and Chief Executive Officer. “We have an excellent working relationship with Garibaldi that has spanned for over 10 years and their experience and knowledge of the pharmaceutical industry added significant value to the process resulting in a successful acquisition that exceeded our expectations”
The facility has been undergoing renovations to be QuVa’s third manufacturing facility, while their other locations are both in Texas. Being able to register it as a 503B facility marks the completion of an initial phase of the development and commercializing of the 160,000 SF buildings on the site. Subsequent development stages will be completed over 12 months to create one of the largest, state of the art 503B facilities in the USA.
“This is an important milestone for QuVa as we continue to set the benchmark for outsourced sterile compounding facilities. The registration of the Bloomsbury facility heralds the start of an important increase in available 503B licensed capacity which has been designed to meet or exceed FDA cGMP standards,” said Stuart Hinchen. “We are looking forward to this facility commencing shipments this week, and ramping up quickly to support the growing demand for our services in new key markets east of the Mississippi.”
The Garibaldi Group is based in Chatham, NJ, and operates a global corporate services business with approximately 35 million square feet of corporate assets under management. The firm is also a leader in the pharmaceutical sector completing in excess of 1.4 million SF in life science related transactions throughout North America since 2014.