Italy based Sigma-Tau Pharmaceuticals to create 60 jobs with investment of $10.4 million in new equipment at its American manufacturing facility in Indianapolis. The plant currently employs 110 people.
A new contract to produce a new drug for Phase 3 clinical trials has paved Sigma way for the investment of $10.4 MN for new mixing and refrigeration equipment, laboratory equipment, material handling equipment and IT hardware.
Sigma-Tau has also requested city of Indianapolis for eight-year tax break saving company about $484,000 over same period. To help offset the cost of the investment city staff have recommended approval of the abatement.
If abatement agreement is reached, Sigma-Tau would retaining its existing 110 workers, which earn an average wage of $33.80 per hour, and would add 60 jobs at an average wage of $35.71 per hour. During the eight-year abatement period, the company still would pay about $301,100 in personal property taxes related to the new equipment. Once the abatement expires, Sigma-Tau would pay an estimated $81,200 annually in personal property taxes for the equipment.
Sigma-Tau Pharmaceuticals was founded in 1957 from the entrepreneurial initiative of research chemist Claudio Cavazza. The company is headquartered in Pomezia, Italy.
Sigma-Tau is a contract manufacturer of liquid pharmaceutical products, and specializes in small and medium-sized production runs for rare diseases and clinical trials. It also manufacturers third-party branded pharmaceutical products.