"We are part of a thriving, global market. This epidemic shows how much we depend on one another and, although I feel our strong networks will remain intact, I expect to see a push for more domestic manufacturing as companies and governments reassess dependencies."
What are some specific technologies that CPC is looking to adopt?
We are a solid dose manufacturer and identifying more efficient processes makes us stronger at our core expertise. In addition, we are looking at new dosage forms. We have added liquid fill capsule technology, novel packaging delivery systems and we are evaluating topicals and liquid-filling.
Last May, CPC acquired Florida Pharmaceutical Products (FPP). Why was this a good deal and how will it impact future growth?
The acquisition of FPP filled a gap at CPC in our expertise regarding distribution and marketing of generic drugs. With this addition, we added a new portfolio of products, customers, and resources. It is also productive that there are long-standing relationships among the leadership teams and we are already seeing the benefits. This is a new silo of revenue for CPC and will substantially accelerate revenue-growth.
What is CPC’s typical client base?
We have a very diverse client base. This includes big pharma, virtual brands, wholesalers, distributors, retailers, in addition to a large export business. Our core focus is providing innovative contract development, manufacturing and packaging services to the industry. We must remain nimble and always focus on our customer’s needs. We do that by immersing ourselves into understanding the true needs of our partners and becoming an extension of them.
What is the market opportunity in the hemp space and what is the plan to develop Uleva?
The future of hemp-based nutrition has arrived. We provide a comprehensive hemp-based line of products for a healthier lifestyle. CPC’s expertise for nearly fifty years in developing, manufacturing, packaging and marketing natural products is not equaled. There are companies entering this space without any background, let alone a pharma/nutra background. CPC has put a lot of energy into making sure that our customers can be confident in the safety of their products and the science behind our marketing. Uleva is just a start.
What are your views on the current regulatory landscape for hemp supplements?
We believe it will remain status quo for some time and will be monitored by the FDA using regulatory discretion, as they have with ‘unapproved’ DESI drugs.
What are the big trends and innovations in packaging?
Serialization is something we just put in place for the Rx market. Outside of the US, we distribute and export products that require it, and domestically we are ready. There’s a growing demand for personalized medicine and individualized packaging. Getting someone a product that is on-the-go, convenient and easy to take is key. Sustainability is also gaining much attention.
How are you seeing the margins in packaging today?
Packaging is always an area of focus when reviewing efficiencies. Margins are always a challenge in a business like ours. We are adding palletizers and case packers; CPC has invested a tremendous amount of capital and resources into enhancing our packaging services.
How is COVID-19 affecting your business? How might this affect the timelines for molecule development?
We are all working hard to adapt and cope to this fast-changing situation. CPC continues to operate, with several modifications put in place to ensure the health and safety of our staff. With the precautionary measures and the impact to staffing, we are operating at a reduced capacity. All CPC leadership team members are aligned and committed to working together to mitigate any impact on delivering products. Our goal is to make the workplace a safe place, and we are communicating with as much transparency as possible.
Might this epidemic create a de-globalization of the manufacturing process?
We are part of a thriving, global market. This epidemic shows how much we depend on one another and, although I feel our strong networks will remain intact, I expect to see a push for more domestic manufacturing as companies and governments reassess dependencies. CPC is well positioned with its manufacturing and packaging operations based in New York.
What are CPC’s two to three year goals?
We are proactive and opportunistic in our growth strategy while advancing the course we have identified. Efficiency building across all departments will remain paramount because it makes us a better partner for our customers. Building our generics business and growing organically with our existing partners will be a focus. New dosage forms will happen. In addition, we will be adding more than 10 billion capacity in tablets/capsules.