Egis World
Fri, Jun 17, 2022 2:00 PM

Egis announces further investments at its Körmend site

Over the next few years, Egis Pharmaceuticals PLC will invest EUR 21.1 million to increase its capacity at its Körmend site. To finance these developments, Egis will use its own capital and a government subsidy of EUR 3.4 million – announced Csaba Poroszlai, CEO of Egis. In total, the company will devote more than EUR 50 million to the development of the Körmend site of Egis since 2019.
Egis World

Egis announces further investments at its Körmend site

Over the next few years, Egis Pharmaceuticals PLC will invest EUR 21.1 million to increase its capacity at its Körmend site. To finance these developments, Egis will use its own capital and a government subsidy of EUR 3.4 million – announced Csaba Poroszlai, CEO of Egis. In total, the company will devote more than EUR 50 million to the development of the Körmend site of Egis since 2019.
Fri, Jun 17, 2022 2:00 PM
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Fri, Jun 17, 2022 2:00 PM
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These new investments cover multiple value-creating processes and align with the initiatives launched in previous years. In addition to technological advances, the investments will increase production capacity and efficiency, enabling the company to respond more flexibly to changing market demand.

"In the last three years we inaugurated three new plants in Körmend, and over the next few years we intend to implement further new investments at this site to increase capacity " - said Csaba Poroszlai, CEO of Egis, emphasizing the significance of the development package and the company's commitment to the town of Körmend. He also pointed out that the production volume of the Körmend entity has grown rapidly, now around 100 million boxes of medicines, almost 60% of Egis’ finished products are produced there.

The recently announced EUR 3.4 million grant, provided on the basis of individual government decision will complement the company's own resources of almost EUR 18 million.  As a result, further development of the tableting plant and the packaging plant (established in 2021 for EUR 5.6 million), as well as the renewal of the manufacturing infrastructure of the galenic products (i.e. non-solid dosage forms: creams, ointments, gels, suppositories, solutions) and the construction of new quality assurance laboratories will also become possible.

In the modern galenic plant, built in 2019 with an investment of around EUR 15 million, new, modern product lines will be installed alongside the existing equipment. It will render production more efficient and cost-effective and will make it possible to respond to market demand and distribute already well-known products to patients in new packaging.

Besides, analytical, and microbiological laboratories will be set up to support the operation of the finished product plant, which was established last year with an investment of EUR 8.8 million to produce medications requiring special manufacturing conditions. These state-of-the-art facilities comply with the latest quality assurance principles and best practices and will also help the company to further expand its oncology portfolio.

Since 2019, Egis has invested about EUR 30 million in Körmend, where it has been the largest employer for decades. The new infrastructure developments will determine the future of pharmaceutical production in the region for decades to come, they will help to increase competitiveness and retain jobs as well as create new ones.

#production #Körmend #priority
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