Bulgaria's Sopharma to launch a BGN 70 M Plant
In December, Bulgarian pharmaceutical giant Sopharma formally launched in Sofia the construction of its new factory, a massive investment worth BGN 70 M. The company pointed out that the construction of new factories demonstrates the revived dynamics of the Bulgarian economy deriving from the companies investing in innovative manufacturing and modernization.
The new facility will be producing up to 4 billion pills per year of over 100 different types of medicines, and will employ 420 people once it is completed. Sopharma boasts a boost of its exports, with stable positions on its traditional foreign markets and growth in its exports on markets it entered more recently such as Turkey, Serbia, Austria and Bosnia and Herzegovina. The company recently announced it would open a subsidiary in Poland, and it is about to complete its procedures for registration in China and Finland. Sopharma is responsible for the bulk of Bulgaria's exports of pharmaceutical products.
In the first half of 2010, the export of Bulgaria's largest pharmaceutical company Sopharma has seen a substantial growth of 38% year-on-year.
The major Bulgarian pharmaceutical producers - Sopharma AD, Medica AD, Bulgarian Rose – Sevtopolis AD, Momina Krepost AD, Unifarm AD, and Septona – also saw their sales on the rise. The combined Q1 turnover of the six companies went up by 14% reaching BGN 154.2 M.