The company will use both European funds and its own money for the investment and should complete it in eighteen months by 2015.
“The contract to finance the research and development center of Terapia in Cluj was signed for eighteen months in July this year,” said Mihaela Opris, the project manager.
The center will be a three-level building covering 2,000 square meters and will employ seven researchers, she added.
The drug producer had 850 employees at the end of 2012. The plant in Cluj-Napoca makes 200 types of oral and injectable drugs. Terapia Ranbaxy ranks ninth on the local market, with a market share of 3.8%.
Terapia Ranbaxy posted growth of about 5% in revenue to RON110 million in the third quarter compared with the same time last year. It expects growth of 10% in this year’s revenue from the RON450 million it posted in 2012.
(English version by Loredana Fratila-Cristescu)