According to reports, many people know that Corning produces glass for mobile phones. In fact, it also contributes to the pharmaceutical industry, but many people don't know.
Not long ago, Corning's new plant in North Carolina opened its doors for business. It mainly produces medicine bottles. It is said that it can produce 500 million glass bottles every year. The new factory can ease the pressure on the supply chain and provide a guarantee for the production of the new crown vaccine. The reason why Corning's new plant was put into use so quickly was mainly because the federal government provided Corning with US$204 million in support, and the government set up programs to support vaccine development.
Corning said that in the past 18 months, it has produced medicine bottles that can meet the needs of more than 3 million doses of vaccines . Corning also launched a new product called Velocity Vials, which is a specially designed medicine bottle that can increase manufacturing speed. Catalent has started to inject the vaccine into Velocity Vials.
Catalent executive Denis Johnson said: “Because Corning’s bottles are coated, there is a faster throughput rate on the equipment we use. According to our observations, the throughput rate on our equipment has at least increased 10%, so that more vaccines can be produced. Production is important during a pandemic."
Corning CEO Wendell Weeks told the public that the company is preparing to expand the North Carolina plant. Eventually it will become one of the world's largest pharmaceutical packaging plants, and the company's medicine bottle business will also be further expanded.
Wei Wende said: "Today the scale of this business is not large. Our annual revenue is 14 billion U.S. dollars. Compared with the medicine bottle business, it is not large. We are not thinking about the next 2 or 3 years. We see more In the long run, the medicine bottle business is an opportunity for us, and annual revenue may reach billions of dollars. We firmly believe in this."
Grand View Research, a market analysis agency, believes that the pharmaceutical glass packaging market will grow to 7.46 billion U.S. dollars by 2028, and only 4.02 billion U.S. dollars in 2021.
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