Drug development company Patheon announced Monday that it will acquire a site in Florence, South Carolina, to manufacture its own pharmaceutical ingredients.

The Durham-based firm will purchase the facility from Roche Holdings Inc.

Under the terms of the purchase agreement, Patheon will acquire the site for an “immaterial sum” plus the cost of associated inventory and spare parts, the company said in a statement. Patheon has also entered into a multi-year supply arrangement with Roche.

The South Carolina site spans 1,100 acres, or 300,000 square feet, and Patheon said with it the company will be able to expand its capacity for manufacturing highly potent compounds, and support solid-state chemistry, micronization and commercial spray drying.

“The company will benefit from the additional North American ‘API’ capacity and adds a state-of-the-art facility with approximately 200 scientific and manufacturing professionals,” CEO James Mullen said in a statement.

Patheon has approximately 8,000 employees worldwide, according to its website.

Over time, Patheon said it expects the new facility to have a “similar financial profile” to other sites in its drug substance segment.

Shares of Patheon, traded on the NYSE under the ticker symbol “PTHN,” reached as high as $27.05 on Monday afternoon. The stock opened at $26.29, down from a three-month high of $30.10 reached on Sept. 22.

The complete press release can be read here.