Pharmaceutical company Actavis Ltd will be investing €12 million in the construction of a 3,000-square-metre warehouse adjacent to its existing Bulebel operation.

This structure will house the company’s research and development department, besides serving as a warehouse, allowing it to improve its operational capabilities following its recent expansions.

The announcement was made during a visit by Finance Minister Tonio Fenech yesterday. He said the company’s efforts to expand its local operations were enhancing the country’s prospects of achieving the objectives set out in the government’s Vision 2015.

He commended the company for creating 150 new jobs in the past two years despite the global recession. Actavis currently employs 600 people, 10 per cent of whom are involved in research and development.

Mr Fenech said the manufacturing industry played an important role in getting the country’s economy back on track following the recession. He referred to recently published statistics which showed that the country’s GDP grew by 4.2 and 3.9 per cent respectively in the first two quarters of this year.

Actavis Ltd has invested over €50 million in its local operations since it set up shop in 2002.