Further FDI to bolster Malta’s pharma sector

The Ministry for the Economy, Investment and Small Businesses has announced that terms have been agreed between Malta Enterprise, PharOS and Arrowpharm (part of the TEVA Group).

This agreement will enable PharOS to take over the factory building, equipment and human resources of Arrowpharm. The takeover transition will occur over the next few months, with PharOs expected to be operational in Ħal Far by mid-2018.

PharOs is heavily engaged in research and product development and has a portfolio of more than 50 products. The company’s expertise covers all aspects of product development, from active pharmaceutical ingredients sourcing to market release.

“We have identified Malta as an opportunity due to the fact that manufacturing of solid dosage pharmaceutical forms complements our research and product development activities and thus will enable us to grow vertically, consolidate and increase our operations globally,” said Theodore Panagopoulos, partner at PharOS.

In Ħal Far, PharOS will initially be manufacturing finished dosage form pharmaceutical products and will eventually extend its range of activities to other niche areas within the production of pharmaceuticals.

“This is another important investment in the pharmaceutical sector and the second largest investment in this sector announced in recent weeks. The addition of PharOS will complement Malta’s pharma portfolio which already includes important names namely TEVA itself, Siegfried, Medichem, Alvogen, Pharmacare Premium, Amino Chemicals, Sterling Chemicals and Aurobindo,” stated the Minister for the Economy, Investment and Small Businesses Dr Chris Cardona.