Romania’s Polisano Pharma now under control of local rail freight group

pills
Romania's Polisano Pharmaceuticals is now under the control of local rail freight group Grampet. (Pixabay)

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.”

Free Daily Newsletter

Like this story? Subscribe to FiercePharma!

Biopharma is a fast-growing world where big ideas come along daily. Our subscribers rely on FiercePharma as their must-read source for the latest news, analysis and data on drugs and the companies that make them. Sign up today to get pharma news and updates delivered to your inbox and read on the go.

The factory, located in Sibiu, employs about 160 people.

RELATED: Sanofi plants in Czech Republic and Romania will be part of generics sale

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.

Suggested Articles

Mylan is recalling a chemo drug and Hospira a commonly used solution because potentially dangerous particulate has been discovered in vials.

Lilly plans a $91 million plant expansion in Indianapolis, and a $7 million tax abatement tied to the project has generated some debate.

Spectrum Pharmaceuticals has pulled its biologics license application for Rolontis because the FDA needs more CMC information.