Adare Pharma Solutions is closing a plant in Northeast Philadelphia and laying off 136 people
The layoff announcement comes just 16 months after Adare moved its corporate headquarters to Philadelphia and said it would add 115 jobs to the 200 it already had in the city.
Adare Pharma Solutions is closing a manufacturing plant in Northeast Philadelphia and laying off 136 people, according to a notice filed with the Pennsylvania Department of Labor & Industry.
“This decision was made due to adverse economic situations for our clients,” Adare said in a statement.
The cutbacks come just 16 months after Adare, a contract pharmaceutical developer and manufacturer, moved its headquarters to Philadelphia from New Jersey with an offer of $3 million in state support.
The company did not apply for the $2.4 million loan in that package, and it did not use workforce development grants that were part of the offer, according to a statement Monday from the Pennsylvania Department of Community and Economic Development.
Private equity firms Thomas H. Lee Partners and Frazier Healthcare Partners own Adare.
The company said in August 2024 that it would spend $16.8 million on the move and expansion. The company planned to add 115 jobs within three years to the 200 Adare already had at two manufacturing and packaging facilities ― a 175,000-square-foot facility at 7722 Dungan Rd. and a 128,000-square-foot facility at 1100 Orthodox St.
Now, the Orthodox Street location in the city’s Frankford section is scheduled to close in stages between March 1 and June 30, the company’s WARN Act notice said.
Adare said it would try to find jobs for some of the affected employees at other Adare locations. It plans to keep its corporate headquarters at the Dungan Rd. facility.