Nephron Pharmaceuticals announced Wednesday that every employee will receive a 5% raise, effective immediately, as a result of the Tax Cuts and Jobs Act.
Nephron CEO Lou Kennedy made the announcement during a company celebration at the company's West Columbia headquarters on Wednesday.
RAW VIDEO: Nephron Announces Company-Wide Raises
Kennedy says passage of the Tax Cuts and Jobs Act has a direct impact on Nephron, and the company decided to pass along some of its business savings by giving every employee a 5% raise effective immediately.
"We were very heartened by what the president announced," Kennedy said of last week's tax reform announcement. "We wanted to show our local support."
"We know that this transcends the Midlands across many other zip codes because that's where our 600+ employees all hail from," Kennedy says. "We want to be South Carolina proud, day-in and day-out, and do what is right to move this area forward."
Kennedy also announced the company has added 34 new products in 2017, now tipping the scale at 60 product offerings.
“This tax cut will work," says Senator Lindsey Graham, who attended Wednesday's announcement. "It benefits American business and American workers,"
Nephron Pharmaceuticals Corporation manufactures respiratory and sterile compounded 503B outsourcing medications.