British company Novator builds EUR 13.7 mln drug factory in Bucharest
British pharmaceutical company Novator, through its Romanian subsidiary Novator Pharma, will build a EUR 13.7 million plant in Bucharest. The company will receive state aid worth EUR 4.8 mln for this project.
Andrei Chirileasa · Journalist
· Updated · 1 min read
British pharmaceutical company Novator, through its Romanian subsidiary Novator Pharma, will build a EUR 13.7 million plant in Bucharest. The company will receive state aid worth EUR 4.8 mln for this project.
Novator Pharma (RO) is a company established in 2018 in Bucharest's Pallady area, where several other drug factories are located. Its declared activity is the manufacture of basic pharmaceutical products.
Novator Pharma (RO) is controlled by a British company of the same name and Art Pharma Consultancy, a company that distributes medicines.
Novator is a contract drug manufacturer, and Britain's exit from the European Union has pushed many players in this industry to find new headquarters in the Union, where costs are cheaper, market sources told Ziarul Financiar.
The COVID pandemic could accelerate this process of transfer from Western Europe to other EU countries. Novator's portfolio includes over 50 brands of drugs and active substances.
(Photo: Pixabay)
