Nexus Pharmaceuticals Purchase and Sale Agreement

Nexus Pharmaceuticals Purchase and Sale Agreement
Posted on 07/15/2019
On Monday, July 15, the Pleasant Prairie Village Board considered and approved a Purchase and Sale Agreement between Nexus Pharmaceuticals Inc. and the Village of Pleasant Prairie in the amount of approximately for $3.2 million for the sale of 16 acres of property located at the northwest quadrant of County Highway Q and 128th Avenue in the Prairie Highlands Corporate Park development west of I-94. 

The week prior on July 11, Nexus Pharmaceuticals Inc. announced they selected Pleasant Prairie, Wisconsin, as the future location of its first manufacturing facility. Nexus Pharmaceuticals will be the forth tenant of the Prairie Highlands Corporate Park.

Nexus Pharmaceuticals plans to construct a 100,000 square foot manufacturing facility at this location. Nexus Pharmaceuticals specializes in developing innovative processes to manufacture specialty and generic injectable drugs. The facility will support the production and supply of injectable drugs in an array of therapeutic areas including anesthesia, oncology, cardiovascular, and neurology. The company headquarters are located in Lincolnshire, IL, and Nexus is expanding its business with this manufacturing facility.

This multi-phase, multi-year project is expected to be completed in ten years. Groundbreaking is planned for August 2019 and phase one construction is expected to be completed in 2021. Commercial production is expected to commence in 2022. As part of the Nexus development commitment, approximately $25 million will be added in the new tax increment value.

Phase one will consist of constructing an $85 million three-story manufacturing facility with cutting-edge technology including an advanced isolator system for maximum product protection and sterility; reducing the risk of contamination. The facility will also include multiple lyophilization (freeze-drying) machines to support production of Nexus’ current portfolio and robust pipeline of generic and specialty injectable drugs. The facility will create 77 new jobs in fields of high-tech manufacturing, analytical testing, quality control and supply chain management by 2022.
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