Prime Minister: Company’s expansion to Malta ‘a vote of confidence’

The Prime Minister hailed as a “vote of confidence” in government a pharmaceutical company’s decision to expand its manufacturing bases in Frosinone, Milan and Brazil to Malta.

Chemi Pharma Limited’s decision to host a base in Malta brought an investment of €20 million, as it awaits the plant validation by the Medicine’s Authority in early July 2017.

Over the years, Malta has developed a strong generics pharmaceutical base and hosts international names such as Actavis (TEVA), Medichem, Pharmacare, and Amino Chemicals. Exports of pharmaceutical products in 2016 amounted to €839.3 million.

Full-time employment within the pharmaceutical sector amounted to 1,160 in October 2016, contributing to 5.6% of total full-time employment in the manufacturing sector.

Chemi Pharma Ltd has already recruited 20 workers, expected to go up to 80 when in full production. It projects to reach a turnover figure of more than €23 million within three years of commencement of operations.

Muscat said that Malta’s “economic miracle” was also the result of mutually beneficial relationships, which encouraged businesses to invest and expand in Malta. The creation of full-time jobs in the manufacturing sector today stands at 2,500, 400 more than in 2013.

“That is a 19% increase that we only hope will continue to prosper,” Muscat said, following a private meeting with the management of Chemi Pharma Ltd.

Earlier, Muscat also visited workers at Siefert Systems Ltd, which recently announced an expansion to its operations that is going to increase its workforce to 250 persons.