GREECE Trends and Developments Contributed by: Ioannis Manousakis and Dimitra Panopoulou, ALG Manousakis Law Firm
regions like Megalopolis and Tripoli’s proximity to Athens. Taking advantage of the investment claw-back program enacted by the government, four of the largest pharma manufacturing com- panies are investing in new production facilities. Their collective efforts aim to establish ten new factories and 56 production lines, along with 14 new research structures, creating approximately 5,500 new jobs. These initiatives are expected to meet over 50% of Greece’s medication needs for oncology patients, contribute to savings in pharmaceutical expenditure and enhance both national and European self-sufficiency in phar- maceutical production. More specifically, one of the largest pharmaceu- tical companies of parenteral solutions (IV fluids) in Europe and a prominent player in the Greek pharmaceutical industry has announced an ambitious investment plan worth EUR356 mil- lion for the period 2021-2027. This plan includes constructing four new production units in Tripo- li’s Industrial Area. Additionally, it is expanding its finished pharmaceutical product manufacturing capabilities by building six new production units at its Tripoli complex, aiming for a capacity of 250 million finished products annually. Another leading Greek pharmaceutical company, known for its respiratory medications and cardi- ovascular products, contributes to the industry’s growth with significant investments of EUR170 million in research and development, especially in the Attica region. The company operates a state-of-the-art Experimental Research Center and has been actively developing both original and generic pharmaceutical products for the Greek and international markets.
Another Greek pharmaceutical company, with a history of over 70 years, produces a wide range of pharmaceutical and non-pharmaceutical products covering various therapeutic catego- ries, such as osteoporosis, hypertension, infer- tility and parathyroid disorders. Along with two large pharmaceutical companies, it is planning the construction of a new research and manu- facturing facility for injectable and biotechno- logical drugs in the Industrial Zone of Tripoli. Reports indicate that the total investment for the three pharmaceutical companies in the area will exceed EUR180 million. Finally, in the Attica region, another multina- tional pharmaceutical company that manufac- tures veterinary, respiratory, cardiovascular, and neurological products operates a major indus- trial production facility in Koropi, marking it as the only multinational pharmaceutical company with a manufacturing facility in Greece. In 2020, the pharmaceutical company announced fur- ther multi-year investments of EUR120 million in Koropi, intending to transform this site into a new production hub for its innovative medica- tions.
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