GSK Invests EUR5M In Brasov Production Unit

05.30.2011 ZF English

UK drug maker GlaxoSmithKline (GSK) has budgeted investments worth 21 million lei (EUR5 million) in its Brasov plant, with one of the projects being a lab set to be completed in 2012.

The investments are announced as the company exports drugs manufactured in Brasov to over 50 countries worldwide.

"At the end of last year, exports amounted to over 43% of total production, in terms of volume. We plan to increase exports to more than half of production volume by boosting the number of countries we export to and also raising the number of manufactured drugs," said Pascal Prigent, general manager of GSK Romania.

GSK's Brasov projects are important as Europharm plant is among the biggest domestic pharmaceutical producers, with turnover worth around RON405.9 million (around EUR98 million) in 2009.

According to ZF calculations based on National Trade Registry Office data, that year, Europharm SA ranked third in the top of companies boasting the biggest turnover increases, of almost 400%.

In 2010, the company was positioned 76th in the ranking of the 100 largest exporters on the domestic market. (EUR1=RON4.1315)