AAIPharma Services Corp. reported record earnings in the third quarter and said the privately held company is expanding its Wilmington lab and Charleston, S.C., manufacturing facilities.
“AAIPharma achieved record revenue in the third quarter of 2011, surpassing any previous quarterly performance since the company’s 2009 acquisition by Water Street Healthcare Partners,” CEO Patrick Walsh said in a statement Thursday. The company said earnings were 9 percent above any quarter since the acquisition.
Figures were not released.
The company said construction is under way on the Wilmington analytical facility, a new 40,000-square-foot laboratory and technology center.
The company will expand its laboratory and manufacturing capacity at its Charleston parenteral (sterile) manufacturing facility in early 2012. The facility will also expand to a two-shift operation in 2012 to better accommodate customer needs and overall demand.
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