Pharma company announces €10m investment

The Indian pharmaceutical company Aurobindo Pharma is to commence service operations in the middle of this year followed by manufacturing operations that will employ 120, the Ministry for Investment and IT has announced.

Aurobindo is among the top five pharmaceutical companies in India. It is a global operator with a turnover last year of half a billion US dollars. It has 11 subsidiary companies and a presence in 100 countries.

Investments Minister Austin Gatt said the company will set up in Malta to strengthen its presence in Europe. Malta will serve as its hub for European markets.

He said the Indian firm will invest €10 million in the production of pharma finished formulations and the provision of services including lab testing, quality assurance and the testing of pharma products for quality release on the EU market. It expects to reach a sales figure of €26 million in its fifth year.

The company will be based at Hal Far.