A New Zealand based animal health specialist is targeting substantial European growth after taking control of a major Dundee vaccines plant.
Auckland-headquartered Argenta secured more than 100 high-skilled jobs with its move to purchase the Elanco Animal Health site in February.
The transaction has now completed and the threat of closure that was hanging over the site following a review by Elanco has now lifted.
The new owner is keen to grow its presence in the Europe and founder Dr Doug Cleverly travelled to Dundee to welcome his new staff into the Argenta fold.
“We are pleased to welcome the additional capabilities that the former Elanco employees bring to our business,” Dr Cleverly said.
“Having a group of highly-skilled staff, along with an excellent manufacturing facility and site, gives us great confidence as we launch into this new market.”
Argenta is privately owned and is an accredited pharmaceutical contract manufacturing organisation and research and development group.
It specialises in animal health research and veterinary product development and its ranges are sold into more than 30 countries globally.
Dr Cleverly said: “Argenta Dundee will greatly complement our other Argenta manufacturing sites, which are fuelled by the research and development of new products.
“It gives us the technical capabilities and resources to continue to grow our European footprint, and to further improve the breadth of services we can offer to our growing global client-base.”
Elanco operated the Dundee site fort two years after former owner Novartis sold its animal health operation to Elanco owner Eli Lilly – the US based maker of Prozac – for £3.5 billion in early 2015.
During its time in charge, Elanco invested in the Dunsinane Industrial Estate site and the facility now boasts a modern manufacturing plant, laboratories and warehousing.
Elanco’s ties to the site will not be completely severed as it has agreed a commercial supply agreement with Argenta to take future product.
Paul Lewis, managing director of Scottish Development International, hailed the transfer of the plant.
“Investors are continuing to look to Scotland for new and expansion projects and Argenta’s investment reflects yet another vote of confidence in our flourishing life sciences industry,” Mr Lewis said.
“It is testament to the strength of our skilled workforce and our supportive business infrastructure that Argenta has selected Dundee for the next stage of its European expansion and we look forward to working with the company to grow its business in Scotland.”
