DEMO Pharmaceuticals launches R&D hub in Thessaloniki
DEMO Pharmaceuticals has launched a new research and development center, one of the largest in Greece, in the northern port city of Thessaloniki.
The facility forms part of the industry’s 356-million-euro investment plan for the 2021-2027 period. The Greek pharma company intends to develop five pharmaceutical substances and 21 final products at the R&D hub, which covers 2,400 square meters and employs 100 researchers for now, expanding to 200 later on.
Chief Executive Dimitris Demos explained that the investment had originally been planned for a decade ago but was delayed by the economic crisis. T
he expertise that will be developed at the hub will feed DEMO’s new facilities in Tripoli in order to produce raw materials in Greece, a move that, according to the company’s management, is also in line with the new European pharmaceutical strategy for reducing dependence on third countries.
