sunny.png
Sunday September 25th, 2022 4:33PM

WVU nonprofit arm takes over shuttered plant, tenants sought

By The Associated Press

CHARLESTON, W.Va. (AP) — A nonprofit arm of West Virginia University took ownership of a shuttered pharmaceutical plant Thursday with the goal of improving area job and education opportunities.

WVU Medicine will work with the university through the WVU Innovation Corp. to oversee the 1.1-million-square-foot (102,190-square-meter) facility in Morgantown. Discussions with potential private industry tenants are ongoing, said WVU Health System President and CEO Albert Wright.

“There is significant interest from many parties in that building," Wright said on a conference call. “We’re going to be working up a lot of different possibilities as to how we use that building over time.”

Wright said he envisions a few anchor tenants and other, smaller businesses in the building, as opposed to one big tenant. He said it's possible that portions, but not all, of the building could be available for use as a pharmaceutical business.

“We’re looking to be an economic engine here,” Wright said. “We’re looking for some big-anchor tenants, but we’re also going to have a component to what we’re doing to be an incubator for startup businesses, to provide some of the infrastructure to get them going from the start."

Prospective tenants don’t necessarily have to be health-care related, “but we’d like to tie it into the health science capability of the university," Wright said. “So we have had a number of small startups that are interested.”

Viatris Inc. transferred the facility for $1 under a memorandum of understanding with the university. Viatris announced in December 2020 that it was laying off 1,500 workers at the plant, which was formerly operated by the generic drug company Mylan.

Mylan merged with Upjohn in 2020 to form the new company. Viatris, which announced it would slash 20% of its workforce worldwide, is now one of the world’s leading makers of generic drugs and maintains research and development operations in Morgantown.

“Our goal has always been to identify a responsible new steward for this unique site that would secure the best possible future for the facility, our impacted employees and the Morgantown community, a community that continues to play an important and vital role for Viatris," company executive chairman Robert J. Coury said in a statement.

The plant closing left workers scrambling to find new jobs in a state that is often trying to lure new companies to uplift a stagnant economy once dominated by the coal industry.

Rob Alsop, WVU’s vice president for strategic initiatives, said former Mylan employees will be offered a tuition-free education at the university. Coupled with the state's existing offer of free tuition at its community colleges, it will “make sure that those employees are ready for the new job opportunities that we hope come from this,” he said.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Industries, AP Business - Health Care
© Copyright 2022 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Defense rests in trial of 4 men in Gov. Whitmer kidnap plot
The defense has rested and evidence is over in the trial of four men charged with conspiring to kidnap Michigan Gov. Gretchen Whitmer
5:42PM ( 11 minutes ago )
Washington OKs 1st statewide missing Indigenous people alert
Washington Gov. Jay Inslee has signed into law a bill that creates a first-in-the-nation statewide alert system for missing Indigenous people
5:31PM ( 22 minutes ago )
COVID pandemic's end may bring turbulence for US health care
When the end of the COVID-19 pandemic comes, it could create major disruptions for U.S. health care
5:26PM ( 27 minutes ago )
Associated Press (AP)
Stocks end lower, ending market's worst quarter in 2 years
A late slump left stocks decisively lower on Wall Street Thursday, wrapping up the worst quarter for the market since the pandemic broke out two years ago
5:04PM ( 50 minutes ago )
Live updates | Pentagon: Weapons shipments arrive in Ukraine
The Pentagon says an initial half-dozen shipments of weapons and other security assistance have reached Ukraine as part of the $800 million package of aid that President Joe Biden approved on March 16
4:58PM ( 55 minutes ago )
Vote counts continue in two Amazon union elections
Vote counting is underway for two separate union elections for Amazon warehouse workers
4:58PM ( 56 minutes ago )
AP Business
UN chief names panel to probe companies' climate efforts
The head of the United Nations has announced the appointment of an expert panel to scrutinize companies’ efforts to curb climate change
11:48AM ( 6 hours ago )
China reopens one city as Shanghai lockdown enters 2nd phase
The city of Shanghai is preparing to reopen its eastern half and shut its western half while authorities elsewhere are lifting a citywide lockdown in the province hardest hit by China’s omicron-driven coronavirus outbreak
7:43AM ( 10 hours ago )
Global stocks fall after China manufacturing weakens
Global stock markets are lower after Chinese manufacturing weakened and Russian shelling around Ukraine’s capital shook hopes of progress in peace talks
5:12AM ( 12 hours ago )
AP Business - Corporate News
Live updates | Ukraine says Russian shelling hit aid convoy
Ukraine’s ombudsperson says that at least one person has been killed and four others have been wounded in the Russian shelling of a humanitarian convoy
3:56PM ( 1 hour ago )
EXPLAINER: What is the Strategic Petroleum Reserve?
President Joe Biden is again dipping into the nation’s petroleum stockpile to try to corral rising energy prices
3:18PM ( 2 hours ago )
Stocks slip, oil slides as US releases crude reserves
Stocks edged lower in afternoon trading on Wall Street Thursday and oil prices fell as President Joe Biden ordered the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve
3:12PM ( 2 hours ago )
AP Business - Industries
Novavax asks EU regulator to clear COVID vaccine for teens
The pharmaceutical developer Novavax says it has asked the European Medicines Agency to extend the authorization of its coronavirus vaccine to children aged 12 to 17 amid a surge of disease across the continent
5:59AM ( 11 hours ago )
End of COVID may bring major turbulence for US health care
When the end of the COVID-19 pandemic comes, it could create major disruptions for U.S. health care
12:03AM ( 17 hours ago )
BioNTech's quarterly profit soars on COVID-19 vaccine demand
BioNTech has reported another quarter of strong earnings growth
8:03AM ( 1 day ago )
AP Business - Health Care
Defense rests in trial of 4 men in Gov. Whitmer kidnap plot
The defense has rested and evidence is over in the trial of four men charged with conspiring to kidnap Michigan Gov. Gretchen Whitmer
5:42PM ( 11 minutes ago )
Washington OKs 1st statewide missing Indigenous people alert
Washington Gov. Jay Inslee has signed into law a bill that creates a first-in-the-nation statewide alert system for missing Indigenous people
5:31PM ( 22 minutes ago )
COVID pandemic's end may bring turbulence for US health care
When the end of the COVID-19 pandemic comes, it could create major disruptions for U.S. health care
5:26PM ( 27 minutes ago )
Early results show Amazon workers in Alabama rejecting union
Early results show Amazon workers in Alabama rejecting union bid for a second time, but outstanding challenged votes could change the outcome
5:23PM ( 30 minutes ago )
Judge strikes down parts of Florida election law; cites race
A federal judge has struck down portions of a Florida election law passed last year, citing what he said were subtle tactics by the Republican-led government to suppress Black voters
5:22PM ( 31 minutes ago )