Pharmaceutical company expanding in southside Virginia - WVVA TV Bluefield Beckley WV News, Weather and Sports

Pharmaceutical company expanding in southside Virginia

Posted: Updated:

RINGGOLD, Va. (AP) - A pharmaceutical manufacturing company is setting up shop in southside Virginia, a move that's expected to create 70 new jobs.

Gov. Ralph Northam traveled to Pittsylvania County on Tuesday to announce North Carolina-based Panaceutics' plans to invest $5.8 million to establish a research and development and manufacturing facility.

The Danville Register & Bee reports the company's specialty is combining multiple pills into a packet of easy-to-swallow fruit puree.

Northam's office said in a press release that Virginia successfully competed against North Carolina for the project.

The press release says the governor approved a $105,000 grant to assist the county with the project, and the Virginia Tobacco Region Revitalization Commission approved $405,000 in funds.

The company will also be eligible for certain tax exemptions.

Information from: Danville Register & Bee,

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly