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Newsletter July 2010

REGIONAL GREECE

Pharmathern Opens Large Manufacturing Unit

The Pharmathern Group has built and opened a new 41-million Euro production facility in Greece’s Rodopi region, one of the largest  pharmaceutical sector investments of the last three decades.

The investment reinforces the attractiveness of regional Greece as a desirable investment location, where companies may find advanced infrastructure, attractive logistics, a competitive workforce, and available land.

Pharmathern Pharmaceuticals is a private pharmaceutical company focused on developing and marketing of health care products, with a strong position in generics. Founded in 1969, it is one of the fastest growing pharmaceutical companies in Greece.

The 17,000 square metre Rodopi facility, creating 150 new jobs, represents one of the most technologically advanced pharmaceutical production units in Europe.

The company exports 90% of its production, which amounts to more than 3 billion tablets and 2 billion capsules annually.

Mr. Vasilis Katsos, President of the Pharmathern Group, stated that the new production facility positions Greece as a more outward looking economy and has a strong emphasis on research and development. “Innovation is a key pillar of our strategy, which is vital in difficult times such as we face today. We export Greek know-how, Greek medicines, and send them to the neighborhoods of the world, to 85 countries.”

Pharmathern is the largest private research body in Greece today.

The unit was launched and inaugurated at a ceremony on June 11, 2010. In attendance was the Vice President of Greece, Mr. Theodore Pangalos, as well as numerous dignitaries from the local and national level.

Pharmathern
With a long history of development and manufacturing of generic products, Pharmathen has emerged as one of the largest generic development companies in Europe with a development pipeline of ten generic molecules a year.

Pharmathen’s in-house development products are registered in all major EU markets and licensed out to major pharmaceutical companies in Europe, Canada, Australia, South Africa and the United States. Its competitive edge is characterised by cost efficient development and production, creative marketing and added value customer service.

Through strategic partnerships, including but not limited to Licensing or distribution agreements, its international activities have expanded to more than 80 countries worldwide including all the E.U. states, and this has been accomplished through the talent and dedication of employees who align their goals with the needs of customers and partners, as well as the needs and requirements of each market.

In parallel, Pharmathen is investing on the introduction of value added health care products in the local market. With an extensive product portfolio and an experienced sales force of over 120 specialists and medical representatives, Pharmathen has become a leader in certain therapeutic areas and one of the fastest growing pharmaceutical companies in Greece.