Pegasus Laboratories dba PRN Pharmacal made a major investment in its future by acquiring the property neighboring their Pensacola facility. This new property, which includes a 169,000 square foot building situated on 10 acres, will nearly triple its manufacturing footprint. A ribbon-cutting event was held on April 28th with members of the PBI-Gordon Board of Directors, the Pegasus team, and community partners to celebrate the completion of the deal.
“The new facility will allow Pegasus Labs to become a high-efficiency pharmaceutical production campus,” said Andrew Hunt, Senior Vice President and General Manager of Pegasus. “It also provides us with the facilities necessary to support our future growth expectations.”
The engineering and facility planning processes began immediately to prepare the building for its future. The company expects that warehousing and packaging lines will be functional within two years, while pharmaceutical production in the building will begin in four to five years due to regulatory and certification processes.
Pegasus will retain and continue to operate its existing production facilities, ensuring the Company will continue to produce the effective products our industry partners and veterinarians depend upon. Those products include PRN® Pharmacal brands PROIN ER™ (phenylpropanolamine hydrochloride extended-release tablets), KBroVet®-CA1 (potassium bromide chewable tablets), and ReBalance® Antiprotozoal Oral Suspension (sulfadiazine and pyrimethamine).
“The new facility will play an important role in risk mitigation, supporting business continuity and our ability to be a reliable supplier to our customers,” said Hunt.
The Pensacola-Escambia Development Commission and FloridaWest Economic Development Alliance were key partners in the acquisition and helped Pegasus secure critical funding to support the purchase of the facility.
“We’re making major investments in our people, our equipment, and our infrastructure across the entire PBI organization, all of which are necessary to support the growth expectations we have for all of our businesses in the future,” said Steve Clifford, PBI-Gordon Companies President and Chief Executive Officer. “This truly is a major milestone for Pegasus as it secures its ability to scale production to achieve its future growth plans.”