Leading pharma company wants to expand Malta factory
The government is holding talks with a leading foreign owned pharmaceutical company which wishes to expand its operations in Malta, Finance Minister Tonio Fenech said today.
He did not reveal the name of the company but said that despite the global economic storm, the pharmaceutical and bio-technology sector was one of those sectors that maintained its economic momentum in Malta.
"We can safely say that it has first survived the economic shocks and now is in a position to consolidate and expand."
Speaking at the World Meeting of Pharmaceutics, Biopharmaceutics and Pharmaceutical Technology Industry, which is being held in Malta, the minister said the global generic drug industry has witnessed an almost decade-long sales euphoria and volumes and sales growth of prescription generic drugs continued to increase in 2009. In the 12 months ended September 2009, global prescription sales growth of generic drugs climbed by 7.7%, up from 3.6% in 2008.
"In Malta, the value added of this sector reaches 300% of the average value added of all the direct productive activities. It is by far the sector that contributes mostly to our local added value. Annually each person employed in this sector adds value to around €110,000, whereas the average of the whole manufacturing sector is of €32,000. Employment in this sector has increased by 50% in the last three years."
These companies employ a total of 1,200 persons - 6% of the total population engaged in direct productive activities.
Malta currently hosts factories set up by Actavis, Aurobindo, Amino Chemicals, Medichem, Soleapharma, Stirling, Starpharma and Watson Pharmaceuticals among others. These companies originate from Iceland, Ireland, USA, Switzerland, Spain, India and Italy.
Mr Fenech said Malta was not only proud to have attracted such firms, but many of them had also been expanding their operations in recent years.
20 Comments
Post comment
Please sign in or create your Account to post comments.
Muscat. Pat
Mar 9th 2010, 10:19
Few people know, - besides the know everything brigade- that it was the lejbur party,the injorant party, the cwiec party, the rabble party, that had the brilliant idea to sign up to an international agreement that enabled "pharma" companies to set up in Malta and start producing medicine three years before a patent expired! This gave the " maltese" companies an enormous advantage. And the PN "experts" negotiating the EU agreements nearly gave away these advantages away if it were not for an other ignorant lajburista.
Gianninu Saliba
Mar 9th 2010, 09:33
I'm having a field day, today. Bonds oversubscribed, more than €32million of tax reqcovered and factories expanding their operrations in Malta. I always ignore Charles J. Buttivieg, but this time I had to say something about his latest comments. He said: "bring us more investments and we will applaud you for your results". Does that mean that you will give us your vote as well? Are you implying that you are joining this great political party that has been in government for as long as any 25 year old can remember. Welcome, Mr. Buttigieg, finally you must have seen the light. This news must have been your Damascus.
Karl Muscat
Mar 9th 2010, 00:56
@James Grima
Qas hu worth it nirrispondik....
M Micallef
Mar 8th 2010, 23:41
Good news - but I am sceptical until I know the details - name of company, number of meployees going to be employeed etc.
If there is nothing to hide, minister should have given details....
laurence schembri
Mar 8th 2010, 23:10
Another thing about James Grima, I don`t think he ever ventured further than Cirkewwa, I nearly said Gozo.
Lina Briffa
Mar 8th 2010, 23:09
GOOD.............now perhaps we can expect to collect our medication from the pharmacy on time as oppose to having to phone up ampteen times before we know that its in stock.
laurence schembri
Mar 8th 2010, 22:44
Thank you Robert, common sense will tell,that this is a firm that is doing well in Malta and is pouring some more money in its business, this is a normal practice with all businesses, if not, you`ll sink. Even a Cafeteria, it comes the day that the Espresso machine have to be changed to a better and more profitable one, so the owner for his own interest he`ll invest, and why not. Individuals like James Grima and J.Cassar will not understand this reasoning, it`s beyond their intelligence.
R.J Micallef
Mar 8th 2010, 20:53
Well done for this investment.......keep it coming.
While everyone is entitled to his opinion we cant ignore facts ....
There are people in our society that are not so well off and need help ,people in relative poverty and families who are having a hard time making ends meets ,so please if you don't know any cases like these the least you can do is Thank God and show respect.
R.J
James Grima
Mar 8th 2010, 20:15
J Cassar Well said. Fejn hu il faqar, il guh, l -aks, u il qaghad Joe Muscat?
J Cassar
Mar 8th 2010, 19:52
Hemm huma r-rizultati ta' ekonomija li qed jirnexxilha tigbed l-investiment u dan meta pajjiz madwarna qed jeghrqu bil-qghad! X'ghandu xi jghid Doctor Muscat fuq dan?!
Robert Agius
Mar 8th 2010, 19:44
@ Laurence Schembri Couldn't agree more. At least we are more reliable than some other 3rd world countries (or so one hopes). Of course that is how the world works unfortunately and although it is still an extra investment, and needed i might add, it still is just more political propaganda perfect for these turbulent times. I would say, Well done Mr Fenech, but I'm still not impressed.
James Grima
Mar 8th 2010, 19:29
Fejn huma ir red elves, ha nisimghu il hrejjef tahhom. PN fil gvern= Xoghol, Gustizja, Gid, Prosperita', Flus, Nies Sinjuri, u Pajjiz Modern, Zviluppat, u Fost L Aqwa Fl EU. Mal PL= Politika ta Falliment Totali. X razza ta nies!!!
laurence schembri
Mar 8th 2010, 19:11
Come on boys, Pharmaceuticals are the biggest and richest Industries in the whole wide world, they do not give a toss who is running the country, China is a comminist country and is laoded with them, so Is Cuba Gautier ans Bago S.A. are based in Havana. India is the largest manufacturer of pharmaceutical goods in the world, Cyprus, Greece, Spain, even Tunisia, so what is the big deal. Cheap labour is the answer, we are the highest paid workers of all this countries, in Lima and the South Americas they get away with a few Pesos a day, Grow up boys, after all, I do not think that the emplyees in Malta go to work in a blue shirt.
michael scicluna
Mar 8th 2010, 18:51
@ tonio zerafa while praying that the deal really goes through i want you to remember the hundreds or thousands that had already lost their job in manufacturing factories before. what do you expect from a government thats been there for 20 years!! THE ABOVE MENTIONED IS TOO LITTLE TOO LATE
Charles J. Buttigieg
Mar 8th 2010, 18:51
Labour lauds success and positive results but they also harshly criticise mismanagement of people’s funds, corruption and insensitivity to people’s needs. Problem is Laurence Gonzi and his remaining followers can’t accept criticism. Personally I wouldn’t want to live in a world without a very strong political party in opposition. The PL is our watchdog and it’s doing a darn good job at that. Only thieves hate a watch dog. Minister, bring us more investments and we will applaud you for your results but do not expect us to shut up when things are not done the way they should be.
tonio zerafa
Mar 8th 2010, 17:23
yet another one, Tonio Fenech - Prosit.
Kif inhobb insejjahlu jien, il-"ministru l-kwiet" igib rizultat iehor.
u tal-labour jibqghu jghidu li guh u ghaks biss! Jalla dan huwa l-guh.
laurence schembri
Mar 8th 2010, 17:11
Instead of being glad that more money is being poured into this company and show, out comes the critics, the crux of the matter is, if you ask them who the Shadow Minister for Employment is, hey haven`t got a clue. i can see them now fiddling on the Internet to find out, Well done Malta.
Antoine Spiteri
Mar 8th 2010, 16:40
@ N.Calleja. Do you think they will mention it???? I doubt it very much!! If it was the other way round it will be on head lines!!!
George Cremona
Mar 8th 2010, 16:36
Is this the kind of mediocrity the Leader of the Party of Progressives and Moderates, Dottor Joseph Muscat refers to whenever he criticizes the Government's performance? And by the way whom did Dottor Muscat meet in France? What kind of talks did he have and what kind of political business did he discuss? Shouldn't Dottor Muscat feel duty bound to inform the public about his visit in France and its consequential benefits, if there were any?
N.Calleja
Mar 8th 2010, 15:57
Another excellent news item for l-Istazzjon tas-Sena-One TV! And yet another reason for a press-release by the shadow minister for employment!