Two cGMP Lines are Operational in New Subsidiary Facility, NeoStem (NYSE Amex: NBS)
NBS’ owned Suzhou Erye pharmaceutical subsidiary passed the government inspection by the State Food and Drug Administration (SFDA) in China to manufacture penicillin and cephalosporin powder for injection at its new manufacturing facility. This move increases production capacity by more than 50% for significant revenue generating antibiotics.
These two cGMP lines were responsible for $45 M of Erye’s sales in 2009. The new facility now has received government certification and is fully operational and manufacturing products on these 2 production lines. The new facility will provide an increase in production capacity of more than 50% over the old facility. Coupled with the approval of the lines earlier in 2010, Erye has relocated over 90% of its 2009 sales to the new facility, placing the process significantly ahead of the original 2011 goal.
Could the facility pass a US FDA inspection; maybe an independent review could be helpful?
