Last Updated on Wednesday, 30 November, 2022 at 4:08 pm by Andre Camilleri
The pharmaceutical company Teva Malta is investing over €30 million to produce better quality pharmaceuticals.
The investment began in 2020, with €20 million being invested by the end of this year, and a further €11 million is planned next year.
Teva Pharmaceutical Industries has been developing and producing medicine for over a century. Teva Malta currently produces 2.2 billion tablets a year, which are approved by the Maltese Medicines Authority and other regulatory authorities.
“The root of what Teva Malta is today trace back to 1976, and today consists of state-of-the-art bulk manufacturing and packaging facilities, warehouses, and testing laboratories which are maintained to the highest standards. The site became part of Teva Pharmaceutical Industries in 2016,” managing director Patrick Cachia said
This announcement was made during a visit today by Prime Minister Robert Abela. During his visit, he praised the company and the hard-working professionals for the work that they do.
Minister for Environment, Energy and Enterprise Miriam Dalli and Minister for Economy and Industry Silvio Schembri were also present during the visit.
Abela pointed out how this global company reaches out to 200 million patients around the world and called this a demonstration of confidence in Malta’s talent and economy.
“This investment is the result of a strong economy and an ecosystem that gives business confidence to invest and grow,” Abela said.
“The forecasts of the European Commission and the reports of international credit agencies are giving a clear message that the way we are protecting people and keeping energy and fuel prices stable is will have a positive effect on Maltese businesses,” Abela said.
Abela also noted that there are many fruitful opportunities for students who have graduated.
He also praised the company for following Environmental, Sustainable and Governance (ESG) practices.
Cachia said that this investment will continue to strengthen all the current facilities and upcoming projects.
“This is also possible thanks to the constant support of Malta Enterprise, INDIS and the Medicines Authority throughout these years, especially during the pandemic, and also in terms of training assistance to upskill more employees,” he said.
Cachia said that this investment will also help Teva Malta employ an additional 70 people, to add to the 430 employees. This will work well with the company’s recent move towards a 24/7 shift operation.
“Central to these successes are Teva Malta’s employees. The company recognises that its employees are the greatest asset, and as such it demonstrates a critical focus on employee well-being, inclusion and diversity. This has been recognised by the Foundation for Human Resource Development, which awarded Teva with the HR quality Mark for high employee-focused standards within the company. Malta is also committed to equality and diversity, with its senior leadership team split evenly between both genders, and 14 per cent of employees hailing from other various nationalities,” Cachia said.
Cachia said that so far the investments have contributed to a new purified water system, a full fabric upgrade of three granulation bays, tooling for new product introduction, new chillers, compressors and house vacuum transfer systems to assist employee protection.
Cachia also said that Teva Malta has invested heavily in future-proof IT Enterprise transformation.
For this coming year, among others, Teva Malta will invest in new production equipment, and new tooling to allow new product introduction and the extension of a laboratory.
Cachia also praised the intervention of the government to keep the price of electricity stable which was crucial for Teva Malta to maintain its competitiveness.
Cachia added that the company has also introduced a number of energy reduction initiatives including the installation of more than 700 LED lighting units, the planned installation of 1,328 photovoltaic panels, new more efficient HVAC systems, and the elimination of two diesel fuelled steam boilers. This has reduced electricity consumption equivalent to 6,000 houses in Malta annually.