Polisano Pharmaceuticals, once one of the largest drug manufacturers in Romania, is now under the control of rail freight group Grampet after the company upped its stake in the drugmaker from 20% to 74%.
The group, led by investors Gruia Stoica and Vasile Didila, says it plans to make the company one of the largest makers of cancer drugs in Central and Eastern Europe, Romania Insider reported. Plans include exporting 70% of its production to 35 existing markets with an eye on expanding its reach.
“We have already allotted important resources for expanding the factory’s activity,” Stoica told the publication, adding that “We are preparing the launch of the first production line for solid oncologic medicine in the first half of next year following a €25 million ($29.2 million) investment for a capacity of about 10 million therapeutic units per year.”
The factory, located in Sibiu, employs about 160 people.
Two years ago, French drugmaker Sanofi put its generics manufacturing plant in Bucharest up for sale along with a plant in the Czech Republic. That move came a year after GlaxoSmithKline began whittling down its supply chain in Romania and shuttered a plant in Brasov that employed about 250 people.