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Official Launch of the new Long-Acting Injectables Plant by the Minister of Development and Investments, Mr. Adonis Georgiadis

The new plant is part of the company’s total investment plan of over €250 million for the next five years, which will lead to the creation of at least 300 new jobs.

Sapes – Rodopi, the 6th of September, 2019. Pharmathen’s new Long-Acting Injectables Unit was officially launched today by the Minister of Development and Investments, Mr. Adonis Georgiadis; during a ceremony attended by representatives of the central and local government, the scientific and business community, and the Media.

During the official launch ceremony, the company also presented its investment plan, totaling over €250 million for the next five years, coming as a follow-on to the €200 million R&D investment package that the company has already allocated to its research and development activities over the last four years.

The new state-of-the-art plant is one of the most modern drug manufacturing plants worldwide and has been part of the manufacturing site operated by Pharmathen in Sapes, Rodopi. Since 2010, this manufacturing plant alone totals an annual production capacity of 3 billion tablets and 2 billion capsules.

During the ceremony, Pharmathen Board Member Mr. Vassilios Katsos said: "Pharmathen is currently a purely exporting company, with a turnover of over €200 million. As the largest private investor in R&D in Greece based on the amounts invested and one of the country’s largest employers, we have succeeded in expanding far beyond our country’s borders. Our products are available in over 65 countries across all six continents and account for 1% of Greece’s total exports. Ten years ago, we launched our first drug manufacturing plant here in Sapes, carrying out one of the largest private investments in the pharmaceutical industry. Today, we are here to concretely demonstrate once again the potential of Greek entrepreneurship, the potential of Pharmathen and the potential and the benefits of the pharmaceutical industry for our country. We invest in innovation, in diversification and in our people, we swim against the tide and we chart our own way forward. The new Long-Acting Injections plant is based on truly cutting-edge technology and is one of very few of its kind throughout the world. We can only feel very proud of what we have achieved and of all the things that we are planning for the future, constantly focusing on the patients and their families.”

Speaking in the same vein, Pharmathen BoD Chairman and Managing Partner of BC Partners, Mr. Nikos Stathopoulos, stressed the following: “Pharmathen is committed to the implementation of a targeted investment plan which enables it to consistently create increasing value for the company, for its people and, of course, for the consumers. Focusing on the major markets abroad and drawing on its strong foundations, strategic planning, innovation and fully qualified human resources, Pharmathen has already secured a significant growth path for the coming years, as a world leader in the pharmaceutical industry.”

Pharmathen CEO Mr. Dimitris Kadis said: “At Pharmathen, we aspire to consolidate our position as a global leader in the development and marketing of targeted controlled-release drug technologies which can reduce the frequency of drug administration and thus essentially focus on improving the lives of people. Indeed, the fact that we have already obtained the first approvals of these products makes us particularly proud. In this respect, our investment plan is already under way, totaling half a billion euros, as we have already invested over €200 million in R&D over the last few years and will be investing over €250 million by 2024. The most valuable component of our success, however, is our people, whose number has been steadily increasing in recent years. Our goal is to be the employer of choice for the best in our industry globally and, in doing so, we hope to also contribute to the effort to reverse the ‘brain drain’ into a ‘brain gain’ for the country and for the local communities where we operate.”

Finally, the Minister of Development and Investments, Mr. Adonis Georgiadis, made the following statement: “I am particularly pleased to welcome the new major investment of the pharmaceutical company Pharmathen in Sapes, Rodopi. A company that perfectly embodies our vision of how modern Greek businesses should operate: investing systematically in research, producing products that meet the needs of the global market, being extroverted and – of course – profitable, while at the same time having a significant social footprint, with a strong focus on job creation and retention – all the more so in regions of crucial significance for our county, such as Thrace. For the Government, supporting these businesses in practice and promoting their achievements so that others may also follow suit, is a high priority. I am confident that there will be other Greek businesses which will also ‘lead developments badly’, to use the Pharmathen shareholders’ very apt description of their company.”

Founded in 1969, Pharmathen has evolved over the past fifty years into one of Europe’s largest pharmaceutical research companies, carrying out research for the world and investing in Greece, specializing in the development, registration, manufacturing and life-cycle management of highly complex pharmaceutical technologies and generic formulations. According to the EU Industrial R&D Investment Scoreboard, it is the largest private investor in R&D in Greece based on the amounts invested and one of the 50 largest pharmaceutical / research-driven companies, investing €40 million annually in research into new pharmaceutical products.

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