Quantum Pharma Plc said NuPharm would cease trading at Deeside Industrial Park by the end of December due to "significant cash losses".
The firm took over NuPharm in July last year.
It said despite continued investment, NuPharm was "not capable of becoming an earnings enhancing business", and closure was the only option.
In a statement, it said: "Other alternatives were examined but were not considered viable.
"The board believes that the best available course of action is to commence a closure of the business in an orderly fashion."
NuPharm makes products for the pharmaceutical and healthcare industries.

Trading standards officers in Knowsley on Merseyside seized a "large number" of the vaping liquids which are used in e-cigarettes.
A council spokesman said they were packaged to appeal to children and lacked the necessary warning signs.
E-liquids contain nicotine and can be "extremely dangerous" if swallowed by mistake.
The council removed the items from five business premises in Huyton, Prescot and Kirkby in September.
The products taken off the shelves include:
According to the Food Imitations Safety Regulation 1989, it is an offence to supply products which are not food, but could easily be confused with food due to their packaging or shape, particularly by children.
Eddie Connor, councillor responsible for public health wellbeing, said: "I'm pleased that our Trading Standards team have investigated and removed these potentially harmful products from sale in Knowsley.
"The safety of customers is always our highest priority and I'm concerned that young children could be attracted to these products because of their appearance.
Mr Connor added that Knowsley's trading standard officers are investigating the supply chain for the e-liquids.

It is claimed the accounts for the Cleddau Bridge are confusing, with some showing a loss and others a profit.
Motorists pay 75p - lorry drivers £1.50 - to cross between Pembroke Dock and Neyland. There have been previous calls to scrap the tolls altogether.
The council said it will review both the physical and financial management of the bridge.
The announcement follows a complaint from a member of the public to the Wales Audit Office, which argued that money collected by the council was not being spent in line with rules governing the bridge.
The complaint also suggested that council accounts for the bridge are confusing.
One set of Pembrokeshire council figures for 2013/14 show the bridge operation made a loss of £60.6m.
A second set of figures for the same period suggest the loss was £9.3m.
And a third set of figures state that the council actually made a combined surplus of £17.6m.
Council officials have confirmed to BBC Wales that £60m deficit is in fact a 'notional' loss - and does not actually exist.
The second part of the complaint to auditors is over whether the council should be allowed to make a profit - and where that money should be spent.
Collecting tolls on the Cleddau Bridge is governed by legislation set out by the UK Parliament in the Dyfed Act 1987.
Council leader Jamie Adams said the authority's position was that it can make a profit as long as the funds are used for other transport projects.
However, he accepted that the wording of the 1987 law was unclear.
Mr Adams added: "We've simply followed the example set by our predecessor authority Dyfed.
"Certainly there are different ways to interpret the act which allow for different accounting practices to be undertaken."
The council said it plans to carry out the review of the lifetime cycle of the Cleddau Bridge by the end of March 2016.
A pharmaceutical company in Flintshire is to close following with the loss of 66 jobs.
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Concern has been raised over potentially harmful e-liquids being sold to look like "children's sweets".
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The way tolls on a Pembrokeshire bridge are managed are to be reviewed after a complaint to a spending watchdog.