Lannett Company, a Philadelphia-based drug manufacturer, says it has committed $50 million toward a five-building laboratory expansion in Wyoming.
The Cody Enterprise reports that Lannett makes and distributes generic prescription medications. It bought Cody Labs, Wyoming's only pharmaceutical company, in 2007.
The expansion is expected to bring 45 jobs to Cody and Park County and help reduce Wyoming's dependency on the mineral and tourism industries.
State Sen. Hank Coe, who sponsored a 2014 bill as an incentive for Lannett to grow Cody Labs, said Monday that he is "gratified" with the planned expansion. Coe said it "sends a strong message that Wyoming is a great place to do business."
Cody Labs says construction is expected to begin this spring and last through fall 2018.