Pharmaceutical industry: Explosion of investments and new factories in Tripoli

Three Greek pharmaceutical companies are creating production plants for substances and drugs in the BI. IP Tripoli, proving that Greece can be a centre for all of Europe. When the investment of the companies DEMO, WINMEDICA of the ELPEN and FARAN group is completed, we will have the possibility of producing drugs for the first time in Greece. The completion of investments over EUR 180 million is expected to directly create more than 1000 new jobs, while indirect positions are estimated at 2,500 to 3,500. The investments of the Greek pharmaceutical industry shield the health system from deficiencies and ensure that patients are covered in the necessary medicines. This was announced at an information event in Tripoli on “Investments, Research and Innovation by the Pan-Hellenic Association of Pharmaceuticals” where the investments of the three Greek pharmaceutical companies were presented. The event was welcomed by the Minister of Health, Mr. A. Georgiadis, the Secretary-General for Private Investment of the Ministry of Development Mrs. V. Loizos, the Member of Arcadia of the ND Mr. K. Vlassis, the Regional Governor of Peloponnese Mr. D. Poor, the Mayor of Tripoli Mr. K. Giumis and the Prime Minister’s adviser on health issues and former Deputy Minister of Health Mr. V. Kontozamanis. In his welcome, Minister Georgiadis referred to the importance of the clawback netting law – investments that since October 2019 has led to the submission of investment projects already over 600m euros, while the goal is to exceed 1.2 billion euros over the next few years. New production plants will be able to meet the demand for a series of critical drugs not only in our country but also throughout Europe. From his point of view, Vassilis Kontozamanis referred to the five health sectors that have potential for development in Greece. Biotechnology, pharmaceutical production, digital health, clinical trials and biopharmaceutical services. According to Mr Kontozamanis, Greece can play a leading role in the innovative biopharmaceutical industry and the foundations have been laid that will make the country competitive internationally in this area, creating the conditions for investment in health to contribute to the country’s further economic development. He pointed out that the investments taking place in Tripoli make the drug production site, with the next goal of developing an integrated biopharmaceutical service ecosystem. In his speech on “investments and patient coverage”, Theodore Trifon, President of the Pan-Hellenic Association of Pharmaceutical Industry, member of the Board of Directors of the European Association of Medicines for Europe and co-director of the ELPEN Group, stressed: “The total amount of investments implemented in the BI. IP Tripoli is 180m euros, while at least 1,000 direct jobs will be created. The investments of the Greek pharmaceutical industry shield the health system from deficiencies and ensure that patients are covered in the necessary medicines. The new production units of WINMEDICA – company of the ELPEN group – will be able to meet 25% of the needs for oncological treatments by 2028. It should be stressed that according to IOBE, every euro of investment in medicine returns to the economy of EUR 3.2. This is a unique multiplier showing the great added value of the Greek pharmaceutical industry in the national economy and society.” Dimitris Demos, Vice-President of the Pan-Hellenic Association of Pharmacopoeia, and Vice-Chairman of DEMO, referred to the contribution of the Greek pharmaceutical industry to research and innovation, noting that: “It is a fact that health is promoted through innovation that creates new therapeutic solutions. However, the widespread diffusion of these solutions in the daily therapeutic, global and especially in countries with limited economic potential to buy drugs, which are increasingly expensive, comes through the birthmark industry which does not just ensure affordable medicine on much of the planet but through marginal innovation actions improves the original product, ensuring ease of use and better compliance with treatment. With the completion of the investment, we will have for the first time in the country the possibility of producing raw materials and DEMO will be among the three largest units of production of penicillin and oncology drugs in Europe covering 35% of EU needs in penicillin and oncology drugs. The creation of new production units will contribute to the economic development of the wider region, since it will mean stimulating employment by creating thousands of direct and indirect jobs.” SOURCE: RES-BE