Pharmaceutical Executive Europe - March 2008 - (Page 24)

24 Special Report March 2008 Pharmaceutical Executive Europe The Malta Story Though the country is small, Malta’s pharma industry is thriving. As a location for outsourcing, its archipelago offers a combination of advantages unique within the EU. Victoria Farrell reports. T he trend for outsourcing within the pharma industry is growing directly in proportion with the disillusionment towards the offerings of traditional destinations for outsourcing. Cost savings alone are insufficient to compensate for differences in time zones, problems with languages and an untrained workforce amongst other issues. Safety problems such as the tainted products of Chinese origin that entered the US market last year create further distrust and, when the products in question are pharmaceuticals rather than, say, toothpaste, consumers’ lives are potentially put in danger. Nevertheless, the universally-acknowledged financial problems within the pharmaceutical industry demand solutions other than merely reducing staff numbers. Outsourcing remains an ideal longterm solution for cutting costs, but it shouldn’t also have to mean compromising either safety or efficiency. Generics Malta falls outside the patent jurisdiction of a number of pharmaceutical products and, due to the small domestic market, few patents have been registered under Malta’s Patents legislation. The ban on retroactive patent registration also provides an extended period of opportunity for generics manufacturers in Malta. The Malta Medicines Act of 2003 allows a data protection period of just six years from the date that the originator drug is first marketed. Malta’s Patents and Designs legislation also incorporates ‘Bolar’ provisions, enabling generics producers to manufacture and market drugs as soon as patents expire. Facts and figures The pharmaceutical sector in Malta currently employs over 800 people full time; this figure is expected to grow to over 1400 by 2010. Companies currently operating in Malta include Actavis, Siegfried Holdings, Arrow Pharmaceuticals Group and, the newest company to arrive on the island, Aurobindo (see sidebar). Investments, Industry and IT Minister Austin Gatt projects that the Maltese pharma industry will double its turnover in the next two Malta 101 The island nation of Malta has a population of 400000 and became an EU member state in 2004. The archipelago, in the southern Mediterranean, offers considerable opportunities for companies looking to outsource operations or establish subsidiaries. In addition to this, the Maltese pharma sector is booming. In a situation that is probably unique in Europe, if not the world, every single pharmaceutical company based in Malta has expanded its operations over the past five years, and the sector is projected to continue its growth. As one of the country’s ‘priority industries,’ there are significant financial incentives available to pharmaceutical companies wishing to operate in Malta (see sidebar), http://www.doi.gov.mt/EN/parliamentacts/2003/Act%203.pdf

Table of Contents for the Digital Edition of Pharmaceutical Executive Europe - March 2008

Pharmaceutical Executive Europe - March 2008
Contents
From the Editor
News and Analysis
Brussels Report
Calendar
The Next Wave of Pharma Talent
The New World Order
Share of Voice to Share of Care
Notes on a Meeting
The Malta Story
Motivation Across Borders
The Mix
No GUTs, No Global
Green is Good
Last Word

Pharmaceutical Executive Europe - March 2008