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GE Healthcare Announces $80 Million Investment To Expand Contrast Media Production Capacity
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GE Healthcare has announced an $80 million investment to expand its Active Pharmaceutical Ingredients facility in Lindesnes, Norway, by 30%. This initiative is aimed at producing an additional 30 million doses of iodinated contrast media annually by 2025, responding to expected global demand doubling over the next decade. The expansion is set to create around 100 new jobs and follows the recent opening of a new production line in Cork, Ireland. This investment reinforces GE Healthcare's leadership in the contrast media market.
Positive
Investment of $80 million to expand production capacity by 30%.
Anticipates production of 30 million additional doses of contrast media by 2025.
Creation of 100 new jobs in Lindesnes, Norway.
Strengthens commitment to meet growing global demand for iodinated contrast media.
Negative
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Capacity expansion at Active Pharmaceutical Ingredient facility in Lindesnes, Norway, contributes to GE Healthcare’s aim to produce 30 million more doses of contrast media per year by 2025
This step reinforces GE Healthcare’s broader commitment to address growing future demand for contrast media, which it expects to double in the next ten years
SPANGEREID, Norway--(BUSINESS WIRE)--
GE Healthcare’s Pharmaceutical Diagnostics business announced an $80 million investment to increase manufacturing capacity by 30 percent at its Active Pharmaceutical Ingredients (API) site in Lindesnes, Norway. The investment – which is creating around 100 new jobs – is part of GE Healthcare’s broader commitment to address significant future global demand for iodinated contrast media, used in Xray and Computed Tomography (CT) procedures around the world to enhance visualization of organs, blood vessels and tissues across disease pathways.
GE Healthcare Manufacturing Facility, Lindesnes, Norway (Photo: Business Wire)
Iohexol and iodixanol API are used in over 100 million patient doses of GE iodinated contrast media annually, equivalent to three patient procedures every second. This new investment, coupled with the recent opening of a new production line at GE Healthcare’s Cork, Ireland, fill and finish facility, aims to enable the production of 30 million more patient doses per year by 2025.
President & CEO of GE Healthcare Pharmaceutical Diagnostics, Kevin O’Neill, said, “We expect global demand for iodinated contrast media to double in the next 10 years, driven by global prevalence of chronic disorders and significant growth in CT procedures. This investment in capacity expansion at our Lindesnes facility is another example of how we, as an industry leader, are addressing this growing demand to meet the needs of our customers and their patients across the globe.”
The 100-acre Lindesnes site in southern Norway, has been operating since 1974 and employs 450 people, who use multiple chemical pharmaceutical processes to convert iodine into finished API. Recently, GE Healthcare announced a multi-year agreement with SQM, a Chile-based mining company, to secure increasing supply of iodine, the key ingredient in iodinated contrast media.
GE Healthcare is the world’s leading supplier of contrast media, used to support patient imaging procedures in 130+ countries globally. All stages of its contrast media manufacturing, from development of Active Pharmaceutical Ingredient (API) to finished product, are managed entirely by GE Healthcare, adhering to current Good Manufacturing Practices. With over 4000 employees globally and seven manufacturing sites, the Pharmaceutical Diagnostics business also develops and supplies radiopharmaceuticals used to support diagnosis, monitoring and treatment selection across Neurology, Cardiology and Oncology clinical pathways.
About GE Healthcare:
GE Healthcare is the $17.7 billion healthcare business of GE (NYSE: GE). As a leading global medical technology, pharmaceutical diagnostics and digital solutions innovator, GE Healthcare enables clinicians to make faster, more informed decisions through intelligent devices, data analytics, applications and services, supported by its Edison intelligence platform. With over 100 years of healthcare industry experience and around 48,000 employees globally, the company operates at the center of an ecosystem working toward precision health, digitizing healthcare, helping drive productivity and improve outcomes for patients, providers, health systems and researchers around the world.
