State and local leaders came together in Collierville on Wednesday, July 31, to celebrate a speciality pharmacy formally choosing the town for a new dispensing site.
Pittsburg-based PANTHERx Rare Pharmacy plans to open a new facility at 280 Moore Lane. The Town of Collierville approved a conditional use permit for the 38,700-square-foot building in April.
“A number of key factors made Collierville the perfect choice for our second pharmacy distribution center," PANTHERx COO David Loschinskey, said in a news release. "These include Tennessee's business-friendly environment, bolstered by the governor's team and economic development staff; the invaluable support from Memphis and the Chamber of Commerce; MLGW; and the highly skilled labor pool in the region.”
The facility is set to bring 120 jobs, and the news release from the Tennessee Department of Economic and Community Development (TNECD) said the wages will be "well over" the median wage for Shelby County. PANTHERx plans to invest $4 million in the facility over the next two years, according to the TNECD release.
“Health care is an integral part of the state’s economy, and today’s announcement will further strengthen our position as the center for this booming industry," said TNECD Commissioner Stuart McWhorter, in the release.
Comercia Real Estate LLC bought the Moore Lane property from Pyramex Safety Products in 2020 for $1.9 million. Comercia is an entity controlled by Smyrna, Tennessee-based Ethnix Group. The former owner, Pyramex, moved its headquarters and distribution center from Collierville to Piperton about five years ago.
The new facility represents big growth for PANTHERx. Its Collierville workforce is set to increase the company's headcount by 20% at its first facility in Tennessee. The company expects to mail out 600,000 prescriptions per year from its Collierville facility.
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