COLUMBIA, S.C. - New World Pharmaceuticals, LLC, a privately held specialty pharmaceutical company, and sister company New World Consumer Products, LLC, a producer of scientifically-advanced products and supplements based on technology developed by New World Pharmaceuticals, will be locating their headquarters in Charleston County. The companies expect to invest more than $21 million and create more than 38 new jobs over the next five years.
The companies' new headquarters at 78 Alexander Street, within Flagship 2 in downtown Charleston, will primary focus on the collaborative development of its trademarked IDDOCTM and XRCELTM technologies for pharmaceutical delivery. President and Founder Fred Sexton chose to locate both companies in the City of Charleston to be near educational institutions that could assist in continued research and development of the companies' technology platforms and product lines. New World will be participating in SCRA's SC Launch program that supports the growth of the knowledge economy in South Carolina.
The Coordinating Council for Economic Development approved job develop credits for the project.
"We are excited about our relocation to Charleston and looking forward to taking advantage of all that the city and the state have to offer. We were seeking a location where we would have access to recognized academic institutions and be in a state that is friendly to businesses and interested in working with companies to help them grow. The Department of Commerce, SCRA, SC Launch, and CRDA have all been exceptionally helpful in the process." -Fred Sexton, president and founder of New World Pharmaceuticals, LLC and New World Consumer Products, LLC
"We welcome New World Pharmaceuticals and New World Consumer Products to South Carolina and to the research and development family here. We congratulate them on their plans to invest $21.3 million and creating more than 38 new jobs." -Gov. Nikki Haley
"South Carolina has become a magnet for high-tech and innovative companies, including those in the life sciences sector. Experts predict that by 2020, our state's high-tech jobs should increase by nearly 20 percent, and with companies like New World taking root, I'd say we are definitely on the right track." -Secretary of Commerce Bobby Hitt
"We are delighted to welcome New World Pharmaceuticals to Charleston and to SCRA's SC Launch program. Our state's coordinated, pro-business environment continues to bring innovative, high-tech companies to the state, fostering our talent base and creating tremendous potential for further growth." -SCRA CEO Bill Mahoney
"Congratulations go out to New World Pharma on their relocation to Charleston. Our burgeoning medical sector, anchored by the cutting edge research at MUSC, will provide fertile ground in which New World Pharma can sink roots and flourish. We believe that our medical talent and innovation resources will provide a critical competitive edge, and Charleston County looks forward to partnering with New World Pharma for years to come." -Charleston County Council Chairman Teddie Pryor
"We are pleased to welcome New World Pharma to the region. MUSC, SCRA, SC Launch and our region's concentration of scientific and technical professionals were critical factors in New World's decision to locate here. The companies will be assets to our community." -Charleston Regional Development Alliance Board Chairman Bob Whitten
"We are pleased to welcome New World Pharmaceuticals and New World Consumer Products to the city of Charleston and to Flagship 2. The decision to locate these two innovative companies in Charleston is great validation that Charleston is an ideal city for high-tech knowledge-based and research businesses. The mix of the high quality of life for our residents and access to fine institutes of higher learning proves to attract innovative businesses." -Mayor Joseph P. Riley, Jr.