An Island company that has been in business for more than 40 years is growing as BioVectra invests $3.8 million to expand one of its facilities in Charlottetown.
BioVectra spokesman Scott Doncaster said the company has grown from 140 employees to almost 250 since 2012 and had to move some people into work trailers to meet the space demands.
“They’re not ideal for department communication,” he said.
In 2013, California-based Questcor Pharmaceuticals bought BioVectra but kept its Charlottetown operations intact.
Since then, to keep up with the growing need for space, BioVectra is spending $3.8 million on construction of a 13,000-square-foot expansion at its facility near the Charlottetown airport.
BioVectra expects work on the expansion to finish in November.
Along with its building on Aviation Avenue, BioVectra has two facilities in the West Royalty Business Park.
The latest expansion comes on the heels of an $18-million expansion completed in 2012.
Its Aviation Avenue facility is used to make active pharmaceutical ingredients for drug manufacturing with most of the product going to outside companies.
The expansion will house laboratories, offices, workstations and amenity spaces.
Doncaster said BioVectra is not only getting new contracts but there is also growth with some of its existing products that required expansion and renovations.
Although the company changed ownership, Doncaster said BioVectra has always looked at expanding and the sale might have freed up some of the risk involved because it’s a little easier to get access to the necessary money.
“The interest was always there.”