EUROAPI to Invest €50 Million at Budapest
Active Pharmaceutical Ingredient maker EuroAPI said it plans to invest €50 million in a new state-of-the-art production plant at its fully integrated Budapest site.
The Hungarian project will focus on debottlenecking current capacity and will see the installation of new multi-purpose manufacturing equipment designed to more than double the CDMO’s overall prostaglandin capacity by 2027.
Paris-based EuroAPI said the investment is designed to bolster its Hungarian operations and reinforce its commitment to serving the needs of its clients in differentiated segments of health products.
Work at the site is to be carried out in two phases, with two-thirds of the investment to be complete by 2023-2025, the remainder by 2026-2027.
EuroAPI claims to be the only Western supplier with a complete portfolio of prostaglandins, which it notes is one of the most dynamic components of the active pharmaceutical ingredient (API) market currently worth more than €5 billion in annual drug product sales. The market is expected to grow at a CAGR of 5-7% annually averaged over the five-year period between 2022 and 2027.
The company’s “key investment” in Budapest will enable it to increase productivity and meet the growing demand in a dynamic prostaglandin market, said CEO Karl Rotthier.
Along with supporting growth, EuroAPI said the investment should allow it to reduce its environmental footprint, thanks to a modern air handling system that will lower the energy consumption of the new workshop.
The plant that will also be equipped with solar panels and a fully closed waste handling system will feature highly potent-API (HP-API) capabilities for potential further development.
Author: Dede Williams, Freelance Journalist
