Torrent Pharma to invest €22 million in new Malta facility

Indian generic medicine company Torrent Pharmaceuticals will open Malta facility and employ more than 120 people

Torrent Pharma Malta general manager Frederick Schembri said the company planned to invest €22 million and employ more than 120 people in the next two years (Photo: James Bianchi/MaltaToday)
Torrent Pharma Malta general manager Frederick Schembri said the company planned to invest €22 million and employ more than 120 people in the next two years (Photo: James Bianchi/MaltaToday)

Indian generic medicines company, Torrent Pharmaceuticals, will be investing €22 million in a new plant in Malta as part of its expansion plans in the EU.

The Malta company will provide laboratory testing, warehousing and batch release from the facility it will build at the Ħal Far industrial estate.

Works on Torrent’s facility will start shortly and are expected to be completed within 18 months.

Torrent Malta general manager Frederick Schembri said the company will create more than 120 full-time jobs and by 2024 will also have labs to test oncology drugs.

The Malta plant will enhance Torrent’s European network, he added. “The Malta facility will be a key logistical and quality assurance hub.”  

Torrent Pharma is ranked eighth in the Indian pharmaceutical market and is present in more than 40 countries. It is the top Indian pharma company in Germany and Brasil.

Schembri said that with the help of Malta Enterprise, INDIS Malta and the Medicines Authority, Torrent has managed to get its Malta project off the table within a relatively short time.

The company has been allocated a plot of land in Ħal Far, the site of an abandoned factory, which it will turn into a testing and warehouse facility.

“Torrent Malta will be a catalyst for the group’s European operations and further growth in the EU because it will help consolidate supply and logistical operations, provide lab testing and batch release,” Schembri said.

The details were given on Wednesday by Torrent top officials in the presence of Prime Minister Robert Abela and ministers Miriam Dalli and Silvio Schembri at the site of the proposed facility.

Abela welcomed the company to the “capital of the Mediterranean” and thanked them for choosing Malta for their expansion.

“You will be a genuine asset wherever you choose to invest in the world and I thank you for choosing Malta… our English-speaking can-do attitude matches your own,” Abela said, adding the company’s investment fits into government’s long-term vision for the country of crafting partnerships with investors.