The factory, located in Sector 3 of Bucharest, is a greenfield investment through reinvesting profits and attracting capital and was designed for closed-circuit drug production with the entire fabrication process being monitored by computer.
The factory took two years to design and build, and the work involved a team of company specialists and foreign experts. It is equipped with modern technology imported mainly from Austria, Germany and Italy. Following a six-month equipment trial by foreign experts, the factory was granted a GMP certificate and in May it is expected to release the first stock of medicines that will be sold in pharmacies.
The factory will have a production of 1.5 billion drug doses per year which will cover the full range of 80 generic drugs in the company's portfolio, to which seven other products will be added once they are launched this year.
LaborMed Pharma operates on the Romanian market mainly in the sector of cardiovascular products, but also in five other therapeutic segments.
With a staff of 380 people and 17 years of experience, the company holds a market share of approximately 2 percent and is currently ranked 17th among local pharmaceutical corporations. LaborMed Pharma ended last year with EUR 26 million in turnover, which marked a 32.4 percent increase on 2005.