Probiotec relocates to Victoria

Probiotec, which bought Agenix' Milton Pharmaceuticals division earlier this year, has relocated from Brisbane to Victoria.

Probiotec CEO Wayne Stringer said the move was a logical step. "Milton Pharmaceuticals would not have survived TGA requirements in Queensland," he said. "We have doubled our operations from 50 to 100 as a result of the acquisition of Milton Pharmaceuticals."

Probiotec produces a range of products in the pharmaceutical, healthcare, nutraceutical, cosmetic and veterinary areas. It names Pfizer, Aspen and Woolworths among its customers.

Stringer said the company was bullish about its prospects for the next fiscal year. "Probiotec plans to double in size again with generic growth," he said. "The company has potential to grow through new product development for pharmaceuticals and nutraceuticals".

Victorian premier Steve Bracks welcomed the expansion of the company. "Probiotec's decision to relocate the Milton operations to Melbourne will result in significant capital investment in Laverton and could continue to create valuable new jobs for our state," he said. "Pharmaceutical manufacturing is a rapidly growing industry and a key part of the booming global biotechnology sector."

The state's minister for manufacturing and exports, Andre Haermeyer, said an additional $3-4 million per annum of currently imported products was expected to be manufactured locally once Probiotec's new plant was fully established.

"This represents a real boost for our manufacturing sector and for our local suppliers, from whom Probiotec expects to source about 75 per cent of its materials," Haermeyer said.