Last Updated on Thursday, 17 March, 2022 at 7:28 pm by Andre Camilleri
A pharmaceutical company KELIX bio will be investing €48 million in a world-class manufacturing and distribution centre in Malta. This investment will be instrumental in its cause to develop and commercialize affordable specialty generics for emerging economies.
The investment, set to create 100 quality careers over the next three years, was announced by Minister for Energy, Enterprise and Sustainable Development Miriam Dalli during a visit at KELIX bio, accompanied by Malta Enterprise Chief Executive Kurt Farrugia and KELIX Chief Executive Hocine Sidi-Said.
KELIX bio is a specialty generic business that focuses on selected therapy areas and product forms of oncology, diabetes, anti-infectives and inhalers, injectables and biosimilars exporting to over 40 countries across the globe. The company acquired Italfarmaco SPA’s subsidiary Chemi Malta in Ħal Far, taking over its newly built world class, EU and US-FDA certified facility and intends to augment its labour force with at least 100 highly qualified professionals. Malta Enterprise was at the forefront to facilitate the takeover of Chemi Malta by KELIX bio.
Minister Miriam Dalli explained that Kelix is an example of investment that Malta wants to attract, whilst plan ahead to keep offering work opportunities and high-quality employment.
Minister Miriam Dalli said: “Innovation and cost leadership are today being put into action. The investment being carried out by KELIX bio, with the support of the CDC, the Development Partners International and the European Bank for Reconstruction and Development, is an investment in citizens around the globe.
“This investment is also an investment in our country. We are truly developing Malta as the next biopharma manufacturing hub. It underpins our ability to attract direct foreign investments in high-value, technology driven sectors such as biopharmaceuticals.”
On his part, Kelix bio co-Founder and CEO Hocine Sidi-Said stated: “KELIX bio’s new centre in Malta will be instrumental in its mission to deliver low-cost affordable and quality drugs to jurisdictions historically deprived of access to such medications. Malta also offers a Freedom-to-Operate status that is very attractive to generic manufacturers. Despite the Covid-19 pandemic, Malta has remained an attractive destination for foreign investors enticed by incentives, a favourable tax regime and a friendly regulatory environment.”