Chinese firm acquires Brevard-based chemical research firm, plans expansion

BREVARD – A China-based pharmaceutical outsourcing firm based in China is adding a North Carolina company to its operations.

PharmAgra is now part of Raybow Pharmaceutical, Raybow announced Monday. Financial terms were not disclosed.

However, Raybow said PharmAgra will become the hub for its North America operations and that it plans to expand the Brevard facility as well as hire additional employees.

Raybow numbers some 1,400 employtts worldwide. It is based in Taizhou, China,

“We are excited to welcome the PharmAgra team since this is an excellent fit for both companies,” said Raybow CEO Bin Wang. “Raybow’s European and US clients will appreciate the option for contract services within the U.S. The PharmAgra team has a proven track record established during their 20 years of custom synthesis services. Coupled with existing capacity ranging from grams to multi tons, we now have the flexibility to accommodate all of our clients’ phase-appropriate outsourcing activities on multiple continents.”