TN: Pharmacy and Wholesale Company to Locate First Operations in Tenn., Creating 120 Jobs | Trade and Industry Development

TN: Pharmacy and Wholesale Company to Locate First Operations in Tenn., Creating 120 Jobs

Aug 01, 2024

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and PANTHERx® Rare Pharmacy officials announced the company’s plans to establish a new dispensing site in Collierville, Tennessee.

The Collierville facility will be the company’s first base in the Volunteer State and when completed, will house 120 new jobs, increasing the company’s total workforce by more than 20%.

The average PANTHERx® Rare wage in the Collierville location will be well over the Shelby County median, and the company plans to invest more than $4 million over the next two years.

Founded in 2011 and based in Pittsburgh, PANTHERx® Rare has experienced unprecedented growth in the last decade, growing to become the seventh largest specialty pharmacy in the U.S. A seven-time winner of the MMIT Patient Choice Award, PANTHERx® Rare specializes in caring for people living with rare and devastating conditions. There are an estimated 7,000 rare diseases, but only 500 have an FDA-approved treatment. PANTHERx® Rare projects that the company will dispense 600,000 prescriptions over the next five years at the Shelby County location.

Since 2020, TNECD has supported 50 economic development projects in Shelby County, resulting in nearly 5,500 job commitments and more than $1 billion in capital investments.

“Tennessee continues to be a hub for budding businesses, particularly in the healthcare industry. I’m grateful to PANTHERx® Rare’s leadership for creating 120 new jobs for the skilled workforce across Collierville and Shelby County, which will further the economic prosperity experienced across this region.” – Gov. Bill Lee

“Healthcare is an integral part of the state’s economy, and today’s announcement will further strengthen our position as the center for this booming industry. I look forward to seeing PANTHERx® Rare’s success in the coming years and welcome this great brand to the Volunteer State.” – TNECD Commissioner Stuart C. McWhorter

“A number of key factors made Collierville the perfect choice for our second pharmacy distribution center. These include Tennessee's business-friendly environment, bolstered by the governor's team and economic development staff; the invaluable support from Memphis and the Shelby County Chamber of Commerce; MLGW; and the highly skilled labor pool in the region.” – David Loschinskey, Chief Operating Officer, PANTHERx® Rare

“As I’ve worked to Make Memphis Matter, I am proud to help announce that PANTHERx® Rare will be locating its first Tennessee location in Collierville. I wish them a long and prosperous future in Shelby County.” – Sen. Brent Taylor (R-Memphis)

“I’m excited to welcome another established company like PANTHERx Rare to the Volunteer State. The pharmacy company’s significant investment will provide more than 120 families with competitive wages and career opportunities. I look forward to seeing all the great work they do in Collierville!” – Rep. Kevin Vaughan (R-Collierville)