“Biofarm development strategy envisages internally developed products. New product development will be one of the growth drivers in the future,” said Catalin Vicol, Biofarm general manager.
At present, Biofarm has two drug plants in Bucharest and a product testing and development unit.
The new plant launched last year has a 3,600-sqm production area and a threefold higher overall flow than the first plant. At the same time, the around EUR35 million investment marks one of the few such projects launched in the drug manufacturing industry in recent years.
Biofarm annually manufactures 24-25 million drug units, with most, namely 80% of products, staying locally. The rest is exported. Biofarm’s production capacity is higher, though, at 100 million units annually.
“Moldova is the second market for us, but we also collaborate with partners of Russia, Iraq, Georgia, Malta. We’ve started negotiations with partners of Southeastern Asia, with countries of Africa and the Middle East. Exports are a major direction for Biofarm’s development strategy in the future,” said Catalin Vicol.
(English version by Catalina Apostoiu)