Pharmaceutical company locating in Charleston - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Pharmaceutical company locating in Charleston

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Photo: New World Photo: New World

CHARLESTON, S.C. (AP) - A pharmaceutical company is locating its headquarters in Charleston, a move expected to create about 40 new jobs over the next five years.

New World Pharmaceuticals and its sister company, New World Consumer Products, will spend about $21 million as they locate in downtown Charleston.

Charleston's Digital Corridor has worked with 51 companies over the past six years. That's resulted in the creation of 200 jobs and an estimated $15 million in payroll.

New World president and founder Fred Sexton says his company wanted to be near colleges and universities that can assist in continued research and development.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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