In a recent gathering at Collierville Town Hall, state and local dignitaries announced the introduction of PANTHERx® Rare Pharmacy into the Tennessee business landscape. The specialty pharmacy, which concentrates on rare and orphan diseases, has confirmed its decision to establish its first Tennessee facility in Collierville, according to a statement from the Tennessee Department of Economic and Community Development. Governor Bill Lee, celebrating the economic vitality this move promises, said, as per the Town of Collierville, “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, will further the economic prosperity experienced across the region.”
The company’s move is not just a win for the local job market but also a chance to lift the standard of wages in the area. Proudly announcing the move, Mayor Stan Joyner said, per the Town of Collierville, "A professional company moving in with such high standing, it can't help but to be a great thing for the Town of Collierville". PANTHERx® Rare sets their average wage bar high, well above the median in Shelby County, ensuring an investment of more than $4 million over the ensuing two years. Consequently, the new facility will swell the company's workforce by a striking 20 percent. Founded in Pittsburgh in 2011, PANTHERx® Rare has ballooned into the seventh-largest specialty pharmacy in the U.S. and is well-recognized with seven MMIT Patient Choice Awards.
Despite the sobering reality that out of an estimated 7,000 rare diseases, only 500 have FDA-approved treatments, PANTHERx® Rare's commitment remains unwavering. This commitment aligns with the chosen site for expanding its operations; Collierville has been selected for its community spirit and the workforce parallels. "We picked Collierville because we like the close-knit community feel and feel there are a lot of similarities in the workforce. It is also an ideal location for skilled workers to live because of the amenities in Collierville," Chief Operating Officer David Loschinskey said, as cited by the Town of Collierville.
