Evonik Birmingham Laboratories

Brookwood Pharmaceuticals is a drug development company located at 756 Tom Martin Drive in Oxmoor Valley. The president and CEO is Arthur Tipton.

The company was created in 2005 when the non-profit Southern Research Institute spun off its drug development and delivery division as a for-profit entity. On August 1, 2007 Brookwood Pharmaceuticals and its subsidiaries, Lakeshore Biomaterials and Aeon Biosciences, were sold to Minnesota-based SurModics Inc. for $40 million (with as much as $22 million more if certain contractual milestones are reached).

In 2007 Brookwood proposed a new $40 million manufacturing and training facility that would create as many as 300 new jobs. An incentive agreement with local governments would provide $7.6 million in public funds, predominantly in recruitment, screening, and training services and equipment provided by the state.

References

• "Southern Research Institute Spins Out New For-Profit Drug Delivery Company, Brookwood Pharmaceuticals, Inc." (January 19, 2005) Southern Research Institute Press Release.
• Wright, Barnett (April 15, 2008) "Insider: Incentives OK'd for pharmaceutical firm." Birmingham News