Greek medicinal company PharOS to absorb Arrowpharm human resources

PharOS, a Greek Pharmaceutical company, has reached an agreement with Arrowpharm and Malta Enterprise that will see it taking over Arrowpharm’s factory building, equipment, and human resources, the economy ministry said in a statement.

It said that the takeover transition would be taking place over the coming months, with PharOs expected to have started operations in Ħal Far by mid-2018. 

PharOs is heavily engaged in research and product development, having a portfolio of more than 50 products, and expertise covering various stages of pharmaceutical development.

“We have identified Malta as an opportunity due to the fact that manufacturing of solid dosage pharmaceutical forms complements our research and product development activities and thus will enable us to grow vertically, consolidate, and increase our operations globally”, Theodore Panagopoulos, a partner at PharOS, was quoted as saying.

Economy minister Chris Cardona said the agreement represented another important investment in the pharmaceutical sector and “the second largest investment in this sector announced in recent weeks”.