DRUGMAKERS: Shift to contract manufacturing leads to more business for Avid Bioservices

Avid Bioservices’ Corporate Refocus, Local Investments Paying Off

Avid Bioservices Inc. earlier this month said it’s investing up to $75 million in a “world-class” manufacturing plant at a Costa Mesa building next to John Wayne Airport to enter the cell and gene therapy market.

It’s the latest sign of growth from the Tustin-based drug manufacturer (Nasdaq: CDMO), which in the last four years has rebranded, shifted its business focus, hired new executives and extensively renovated its existing operations on Myford Avenue, near the Santa Ana (5) Freeway.

“It’s an evolving story, one step at a time,” Chief Executive Nick Green told the Business Journal during an hour-long tour of its existing facilities, about 5 miles away