Beverly Eaves Perdue
Governor

State of North Carolina
Office of the Governor
20301 Mail Service Center • Raleigh, NC 27699-0301

Sept. 17, 2012

Contact: Chris Mackey

Office: (919) 733-5612

Pharmaceutical Manufacturer to Create 14 Jobs in Guilford County

State Grant Helps Biotech Company Expand in Greensboro

RALEIGH – Gov. Bev Perdue today announced that Piedmont Pharmaceuticals LLC, a manufacturer of pharmaceutical products, will expand its operations in Guilford County. The company plans to create 14 jobs and invest $279,000 over the next three years in Greensboro. The project was made possible in part by an $88,000 grant from the One North Carolina Fund.

“My top priority is creating jobs,” said Gov. Perdue. “Our highly-skilled workforce and strong business climate have allowed the biotech industry to thrive in North Carolina. It’s no surprise that our state has one of the fastest growing biotech clusters in the nation.”

Piedmont Pharmaceuticals, headquartered in Greensboro, is a privately-held pharmaceutical development company that focuses on animal health products. The company’s expertise is in parasitology and drug delivery technologies. Piedmont Pharmaceuticals currently employs 12 people at its Greensboro laboratory.

Salaries will vary by job function, but the average annual wage for the new jobs will be $108,429, plus benefits. The Guilford County average annual wage is $40,196.

“North Carolina was selected for Piedmont’s next expansion since it has a talented pool of experienced life science professionals and a variety of organizations, including the N.C. Biotechnology Center and N.C. Department of Commerce, who were very supportive when Piedmont was in the start up phase,” said Roland Johnson, CEO of Piedmont Pharmaceuticals.

The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.

“Today’s job announcement is great news for Guilford County,” said Sen. Don Vaughn of Greensboro. North Carolina’s investments in workforce development, infrastructure and education mean Piedmont Pharmaceuticals can find the skilled, trained workers they need to thrive.”

North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.

Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, N.C. Biotechnology Center, Guilford County, City of Greensboro and the Greensboro Economic Development Alliance.

For more information about Piedmont Pharmaceuticals, including job opportunities, go to http://www.piedmontpharma.com/.

NEW YORK, March 15, 2012 /PRNewswire/ – Piedmont Pharmaceuticals, a privately held strategic pharmaceutical development, licensing, and marketing company headquartered in Greensboro, N.C., USA, and Zhejiang Hisun Pharmaceuticals (SSE stock code 600267), a leading Chinese pharmaceutical company headquartered in Zhejiang, China, announce the signing of a joint agreement to develop companion animal health pharmaceuticals for China and other markets worldwide.

“New products are the lifeblood of every pharmaceutical company,” says Roland Johnson, chairman and CEO of Piedmont Pharmaceuticals. “Hisun is a globally-recognized pharmaceutical provider that demonstrates excellence in every facet of their business operations. This partnership will allow the team at Piedmont to develop and bring even more innovative animal health products to strategic business partners and pet owners worldwide.”

Hua Bai, CEO and chairman of Hisun Pharmaceuticals, notes, “Hisun is very pleased to enter this partnership with Piedmont Pharmaceuticals. The Piedmont team has tremendous depth of expertise and 25 years of proven success with some of the most successful animal health products ever introduced. This product development agreement is a significant component of our strategy to become a leading global supplier of animal health pharmaceuticals. Products emerging from this collaboration will not only help Chinese consumers ensure the health of their pets, but will serve pet owners in other global markets as well.”

Serving a growing market

Current estimates place China’s pet population at 200 million, with that number expected to reach 500 million by 2015.[i] China is the world’s second largest economy behind the U. S., and in the last 30 years, economic growth in China has averaged 8 percent gross domestic product (GDP) annually.[ii] Many analysts predict that China will become the largest economy in the world this century.

Combining strengths

Formed by a group of industry veterans, Piedmont Pharmaceuticals develops and achieves regulatory approval for its innovative animal health and human products, then licenses them to strong commercial partners. Piedmont has licensed a number of its novel animal health products to U.S.-based Pfizer, U.K.-based Dechra Pharmaceuticals, and Germany-based Bayer Animal Health.

Based on sales revenues, members of Piedmont’s team have been involved at some level — including conception, development, regulatory, or marketing — with products that represent more than 10 percent of total dollars spent in the companion animal veterinary pharmaceuticals market in the U.S. today.

Hisun supplies active pharmaceutical ingredients (APIs) to some of the world’s largest pharmaceutical companies, including Pfizer, Merck, Novartis, Eli Lilly, and Alpharma.[iii] In February 2011, Hisun entered into a joint venture framework agreement with Pfizer, the world’s largest pharmaceutical company, to develop products for human health.

Piedmont and Hisun will combine their strengths in research, development, regulatory, manufacturing, and distribution to improve the health and well-being of companion animals worldwide. Committed to meeting the manufacturing needs of its global expansion policy, Hisun currently has more than 200,000 square feet of new space under construction at the Fuyang site in China, including 35,000 square feet dedicated to the new animal health business.

About Hisun

Hisun is a leading biopharmaceutical group focused on improving patient wellbeing and quality of life. Headquartered in Taizhou (Zhejiang, China), the company currently employs more than 3,800 people. Hisun’s operations strictly follow cGMP and received ISO 14000 certification in 2001. To date, more than 40 of the company’s products have passed certification by the FDA (US), EDQM (EU), TGA (Australia), KFDA (Korea), etc., and are sold in more than 30 countries. The company opened its U.S. headquarters in Princeton, N.J., in 2010. For more information, visit www.hisunusa.com.

About Piedmont

Piedmont Pharmaceuticals LLC is a Greensboro, N.C.-based strategic pharmaceutical development and licensing company focused on human and animal health therapeutics with specific expertise in parasitology and drug delivery systems. The company discovers, develops, and achieves regulatory approval for innovative animal health and human health products, and then licenses them to strong commercial partners. Since its inception in 2001, Piedmont has licensed multiple novel patented delivery platforms to strategic partners. Through licensing agreements, Piedmont has products currently marketed in numerous countries. For more information, visit www.piedmontpharma.com.

[i] China International Business, January 19, 2010.
[ii] Economy Watch, June 2010.
[iii] www.KnowledgeAtWharton.com.cn, January 30, 2008.

Contact: Alice Coram, 919.293.0243, ext. 201

SOURCE Piedmont Pharmaceuticals LLC