€4 million foreign direct investment by MGC Pharma inaugurated

Last Updated on Tuesday, 16 November, 2021 at 3:11 pm by Andre Camilleri

MGC Pharma chose Malta to start producing medicine related to Covid-19 treatment

A multi-million investment by MGC Pharma was inaugurated today during a ceremony to mark the company’s decision to develop its facility in Malta. The 4 million investment was carried out at Ħal Far, where the company will be producing medication to treat inflammation caused by Covid-19 and other respiratory problems.

Thanks to this 800m2 facility, MGC Pharma will start producing up to 24,000 units of medicine per day—double the amount that was initially planned.

The investment was made possible through the assistance provided by Malta Enterprise and the Investment Aid initiative. The company chose Malta to start producing a new medicinal product, after working on research and development in Slovenia and carrying out clinical trials in Israel

At the inauguration, Minister for Energy, Enterprise and Sustainable Development Miriam Dalli said the investment enhances Malta’s position as a country which attracts quality investment that provides added value.

“Yet another international company is choosing Malta for its investment. Thanks to Malta Enterprise we will continue to incentivize local and foreign companies to open and expand their operation in our country, whilst creating high quality employment.”

Now that the infrastructural work has been completed and all the machinery installed, MGC Pharma will be working with the  Malta Medicine Authority for the  certification to start producing medicine.

Parliamentary Secretary for Consumer Protection and Public Cleansing Deo Debattista stated that our country is seeing unprecedented growth in the pharmaceutical industry, with an increase in the number of pharmaceutical products. Undoubtedly, this year, COVID-19 vaccines have dominated innovative science.

Parliamentary Secretary Debattista concluded, “As Parliamentary Secretary responsible for the Medicines Authority, I look forward to this potential collaboration between MGC Pharma and the Malta Medicines Authority with the development of Cimetra. It is a privilege to share our motivation, goal, and vision with a forward-thinking industry, so that along with the Malta Medicines Authority, we can assure that the medicines placed on the market are of the best quality and safety for our patients.

MGC Pharma has collaborated with various government entities and international universities on research projects, to be developed into high quality medicinal products.  MGC Pharma produces products for patients who suffer from epilepsy, dementia and Alzheimer’s disease, amongst others. 

This company is also in the process of expanding into medicinal cannabis production.

Malta Enterprise CEO Kurt Farrugia and Malta’s Medicine Authority Chairperson Professor Anthony Serracino Inglott were present for the inauguration.

- Advertisement -