NORTH NORWICH – The president of Norwich Pharmaceuticals, Christopher R. Calhoun, said he has “strong confidence” that an unnamed entity will be buying the long-standing local manufacturer from its former parent, Outsourcing Services Group, within the next two months.
A media announcement made public Friday stated that management of Woodcliff Lake, N.J.-based Outsourcing Services Group had decided to exit the pharmaceutical outsourcing businesses. OSG purchased Norwich Pharmaceuticals, formerly Procter & Gamble Pharmaceuticals, when Cincinnati-based P&G spun off its manufacturing operations here in 2001. The company currently employs about 400 full-time and is one of Chenango County’s largest employers.
“Since its acquisition by OSG, Norwich Pharmaceuticals has met with substantial business success, growing new business opportunities, growing its full-time employee numbers and adding new customers to the business portfolio,” the announcement said. “All of this success has led to significant interest in the business community in acquiring the business.”