OurPharma Holdings LLC, the startup manufacturer of generic medications, recently ended its $3.5 million equity offering after receiving payment or commitments for the full amount.
The money the company received will be used to fund its growth and help pay for its $31.3 million building in Fayetteville, said Adam Kohler, the vice chair of the company that is expected to develop lower-cost alternatives to generic drugs. Kohler said the $3.5 million offering represents 14 percent equity in the company.
He said construction is expected to start next month and to be completed by the end of 2018. The facility was designed by Cromwell Architects Engineers of Little Rock. Clark Contractors LLC of Little Rock is the general contractor.
OurPharma is planning several phases of growth and projects it will employ more than 100 people in five to seven years.
“We are trying to bring drug prices down,” Kohler said. “People pay too much for the drugs that they get, and we’re trying to do a good thing.”
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