Blu Pharmaceuticals, a company that distributes generic drugs, has moved its corporate headquarters and warehouse operations from Bowling Green to Franklin, where it has moved into the former Tyco Electronics facility.
Since its inception last year, Blu has experienced a level of growth that necessitated moving the company to a larger facility. The company has leased 20,000 square feet of space in the Franklin building, which was purchased last year by the Franklin-Simpson Industrial Authority. (Tyco left the Franklin area in the fall of 2005.) Blu is the first tenant in the space.
Blu currently employs a staff of five, but anticipates adding 40 more positions over the next five years. During that time, brand-name drugs with more than $60 billion in combined annual sales will lose patent protection; as a result, more than 80 new generic medications are expected to enter the market, bringing enormous growth potential for Blu Pharmaceuticals.