Newly merged manufacturers Meridian, Kindeva invest $100M in Missouri site
Five months after merging, manufacturers Kindeva Drug Delivery and Meridian Medical Technologies are expanding their capabilities in Missouri.
In a $100 million investment over four years, Meridian plans to convert its newly purchased building in Bridgeton to increase production of drug-device combination products with added fill-finish capability, the companies said.
Since adding 300 jobs since the start of 2022, Meridian now employs more than 900 people in the St. Louis area, the companies said. Financial incentives from state and local municipalities are helping this investment, which was announced in a press release that included quotes from seven different government officials.
“Meridian brings a strong history of specific expertise to support critical manufacturing capabilities for complex products—addressing a manufacturing shortage we have seen increase over the last several years,” Milton Boyer, Meridian’s CEO who now heads up both companies, said in the release.
In its 60-plus years, Meridian has specialized in the production of emergency autoinjectors. Kindeva adds a broader range of drug delivery capabilities, which will be enhanced by this investment, the companies said.
Meridian was a Pfizer subsidiary when it was purchased in 2021 by healthcare investment firm Altaris Capital Partners. Kindeva, formerly known as 3M Drug Delivery Systems, was bought by Altaris for $650 million in 2020. Meridian and Kindeva announced their merger in November and it became complete four weeks later.
Over the past several years, Meridian has been embroiled in EpiPen controversies related to manufacturing and pricing of the popular epinephrine injector. In one such controversy, the FDA said Meridian continued to produce pens despite mounting evidence that many were failing during life and death emergencies.
In 2021, Pfizer and Meridian, plus fellow subsidiary King Pharmaceuticals, agreed to pay $345 million under a proposed settlement to resolve lawsuits over alleged anticompetitive conduct on the popular product.