A new €15 million factory making flu remedies and contact lenses will create more than 60 new jobs in Malta
The announcement is another boost to the Maltese economy, which is currently the fastest-growing in Europe.
Bermuda-based pharmaceutical company Cetic plans to open a massive manufacturing plant on the Hal Far Industrial Estate in 2019.
Malta’s business minister Chris Cardona hailed the announcement as ‘more good news for Malta’s economy and Maltese jobs’.
He said the project will create more than 60 new full-time highly skilled jobs.
He added: ‘Malta has a strong record of good quality and regulatory excellence in the pharmaceutical industry.
‘The sector generated more than €200 million in exports during the first months of 2017.’
Cetic produces a number of products including nasal sprays, contact lenses, antibiotics and medications to treat such illnesses as psoriasis and eczema.
The new factory will occupy an area of around 8,000 square metres.