Cyprus & World News

Medochemie Cyprus wins FDI award in Vietnam

13 March, 2014

Medochemie Ltd., one of the leading pharmaceuticals companies in Cyprus with manufacturing operations in 11 countries, has won the Vietnamese government’s accolade for its multi-million dollar investment in that country.

Three industries were presented with the award for foreign direct investments at the Vietnam Singapore Industrial Park (VSIP), a network of five industrial parks and township developments – one from Belgium, one from Luxembourg and Medochemie of Cyprus.
On hand to receive the award from the leadership of the People’s Committee of Vietnam was Constantinos Pittas, one of the managing directors of the Limassol-based company.
Medochemie established its eleventh plant at the VSIP, operating in full compliance with European Production Standards. It was built to produce solid dosage forms with a capacity of 2 bln tablets and 600 mln capsules per year.
The company, established in 1976 by Dr. Andreas Pittas, develops, licenses, manufactures, markets and distributes branded generic and super-generic pharmaceutical products as well as own patented brands. It has 19 overseas offices with a network of trusted agents and partners in more than 100 countries.
Nine of Medochemie’s industrial plants are in Cyprus, one in the Netherlands, and one in Vietnam. It has acquired and maintains 3,800 marketing authorisation licenses for 630 different pharmaceutical products, classified in over ten therapeutic categories.
Worldwide, Medochemie employs 1,250 people and is a founding member of the European Generic Medicines Association (EGA).