Swiss pharmaceutical company Siegried Generics is expected to open its first branch abroad, in Malta, with an investment of Lm5.7 million. The factory which will start operating in the coming months will employ around 50 persons over the next three years from the start of its operations. This is one of nine foreign projects that were approved by the Malta Enterprise in the last two years.
During a visit at the site which will house Siegfried Generics Malta in the Hal Far Industrial Estate, Investment, Industry and Information Technology Minister Austin Gatt stated that with the approval of these nine projects, the number of workers in the pharmaceutical sector in Malta will increase 800. Moreover, the pharmaceutical industry will be exporting products worth more than 200 million euros by 2007.
Works are well under way and the plant should become validated and operational by mid 2006 when promoters expect to start initial trial production runs to gear up for full swing production by the end of the year.
Initially the plant will cater for up to 500 million tablets per year to handle a single large volume product that has been launched in the European market at the beginning of the year.
The growth of the industry in Malta would have been hampered had not the government taken the initiative to ensure that the supporting infrastructure develops in tandem.
More significantly, from tertiary level downwards, the educational system is adapting to the needs of the expanding sector.
Siegried Generics Vice President and Head of the Project Mr Paul Senn stated that Malta was chosen due to several reasons, including the country’s infrastructure and the fact that the English language is one of Malta’s official languages. Other important criteria that have led to a favourable decision in the case of Malta included the work force and Malta’s EU membership.
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