ECONOMY

Panhellenic Pharmaceutical Association announces future investments

panhellenic-pharmaceutical-association-announces-future-investments

The Greek pharmaceuticals industry plans to spend 600 million euros in the next four years on 12 new factories, 29 new production units, 17 new research departments and 2,000 new job positions, Theodore Tryfon and Dimitris Demos, president and vice president, respectively, of the Panhellenic Pharmaceutical Association, said on Thursday.

Addressing an online news conference, the speakers welcomed the promotion of incentives to attract investments in production, research and development and underlined the need for a stable framework in the long run to facilitate these investments.

Offering incentives to the pharmaceutical industry is in line with a new European pharmaceutical strategy focusing on safeguarding adequacy of medicines in the European market, the representatives said, adding that a necessary precondition for the implementation of investments was the exploitation of opportunities offered with the Recovery Fund.

Tryfon said that investments in the domestic pharmaceutical industry included two production units for oncological medicines that will cover 20% of patients’ needs with Greek medicines, up from 2% currently.