Банкеръ Weekly



The first workshop for tablets, constructed in accordance with the EU requirements for good manufacturing practice (GMP) was opened at Balkanpharma's plant in Dupnitsa on October 11 (Friday). It will be producing tablets that could be sold in the EU countries, conpany insiders explained.One hundred employees will be working on two shifts in the two-floor workshop. The project has been developed by the British engineering firm Austin Company Engineering in compliance with the Bulgarian standards for resitance to seismal coercion, fire safety, and environmental preservation. Its annual production capacity is 3.5 billion tablets, but some 1.7 billion pills will be manufactured initially till additional equipment is installed. Under the contract for Balkanpharma's privatisation, the company Pharmaco has undertaken to invest USD45MN in five years. USD30Mn has been invested so far. Half of this amount - USD15MN - has been spent on the construction of the new capacities. Balkanpharma is within the structure of the international company Pharmaco, into which the pharmaceutical firm Delta was included on September 27, 2002. After the merger, the market capitalization of the new company on the Iceland Stock Exchange reached EUR450MN. Pharmaco employes more than 5,000 people, and its annual turnover for 2002 is preestimated at EUR260MN-plus. The company's operations are concentrated mainly in Bulgaria, Malta, and Iceland. Pharmaco has trade representative offices in ten countries, among them Russia, Denmark, the Ukraine, Germany and Austria.

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