Biotech
Kern Pharma to Build a New Plant in Monforte de Lemos for €33 million
Indukern is a national business group created in 1962. Its activity is focused on human and animal health through its two main companies: Kern Pharma, a pharmaceutical laboratory; and Calier, a veterinary laboratory. With a turnover of €365 million and a team of more than 1,200 professionals, it currently operates in thirteen countries with its own subsidiaries.
Kern Pharma is investing in Galicia. The pharmaceutical laboratory of Grupo Indukern will start the construction of an injectable products plant in Monforte de Lemos (Lugo) in the first quarter of 2023. This new factory will allow it to triple its injectables manufacturing capacity and grow in the market for ethical and generic drugs, both nationally and internationally, Kern Pharma explained in a statement. The investment amounts to €33 million.
The initial investment will be earmarked for the execution of all the civil works and the start-up of the first of the four planned production areas, which will be the ampoules area. Subsequently, from 2025 onwards, the investment will be decided to start up the road line and another two dedicated to innovation projects. In addition to the manufacturing areas, the facilities will include laboratories, a logistics area, and office space. In total, the facilities will occupy an area of 14,000 square meters.
The presentation of the project took place on September 12th, at the Xunta de Galicia and was attended by the president of the autonomous community, Alfonso Rueda, and the president of the Diputación de Lugo, and the mayor of Monforte, José Tomé; who held a meeting with José Luis Díaz-Varela, founder and president of Grupo Indukern; and Raúl Díaz-Varela, vice-president of the group and president of Kern Pharma.
Read more about Kern Pharma new pharmaceutical plant in Galicia and find the latest business news of the day with the Born2Invest mobile app.
Kern Pharma will start up the line of vials at its new center in Monforte de Lemos in 2025
José Luis Díaz-Varela has shown his confidence that “this plant will not only boost the growth of Kern Pharma and Grupo Indukern but will also have a positive impact on the territory, boosting the economic and social development and employment generation of the area” and has thanked all the administrations, both local and regional, for their support and collaboration to make this plant a reality: “As a Monfortino, this project is a great satisfaction for me and further strengthens the relationship of our family and that of our business group with Monforte and with Galicia.”
For his part, Raúl Díaz-Varela remarked that “this plant is also an example of our commitment to national production; we must have a robust pharmaceutical industry that is committed to its own production plants that respond to the supply needs that have become more evident during the pandemic”. Mr. Diaz-Varela added that “the initial forecast is to start with a production of fifty million units per year of ampoules and to have a team of approximately fifty people three years after the start-up”.
Indukern is a national business group created in 1962. Its activity is focused on human and animal health through its two main companies: Kern Pharma, a pharmaceutical laboratory; and Calier, a veterinary laboratory. With a turnover of €365 million and a team of more than 1,200 professionals, it currently operates in thirteen countries with its own subsidiaries.
__
(Featured image by jarmoluk via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
-
Crypto1 week ago
Bitcoin ETFs Up for Records – BTC Is Being Speculated On for the US Election
-
Fintech5 hours ago
Global Dollar Network: Paxos and Other Fintech Giants Unite to Fast-Track Stablecoin Adoption
-
Cannabis2 weeks ago
New York Allocates $5 Million in Cannabis Tax Revenue to Support Youth
-
Impact Investing6 days ago
BPER Partner with Sea Shepherd Italy for the Protection of Sea Turtles