EUROAPI to Invest €50 Million at Its Budapest Site to Meet the Growing Demand for Prostaglandins
June 06 2023 - 11:45AM
Business Wire
- New state-of-the-art manufacturing equipment to double overall
prostaglandin capacity of the Budapest site by 2027
- EUROAPI is the only Western supplier with a complete portfolio
of prostaglandins and a fully integrated production site located in
Europe
- Reduction of environmental footprint thanks to solar panels and
modern air and waste handling systems
Regulatory News:
EUROAPI (Paris:EAPI) announces a €50 million capex investment
for the installation of a new state-of-the-art production plant at
its Budapest site. The project will be focused on the
debottlenecking of the current capacity and the construction of new
multi-purpose manufacturing equipment that will more than double
the overall prostaglandin capacity of the Budapest site by 2027 in
two phases: 2023-2025 (approximately 2/3 of the total investment)
and 2026-2027.
Prostaglandin is one of the most dynamic components of the
active pharmaceutical ingredient (API) market, with a € ~5 billion
annual drug product sales market, expected to grow at 5-7% annually
(CAGR1) between 2022 and 20272.
EUROAPI is the only Western supplier with a complete portfolio
of prostaglandins and a fully integrated production site located in
Europe. This project will bolster EUROAPI’s Hungarian operations
and reinforce the company’s commitment to serving the needs of its
clients in differentiated segments of health products.
“EUROAPI is positioned as the only Western prostaglandin
supplier with a complete prostaglandin portfolio and a fully
backward-integrated production located in the heart of Europe. This
key investment in Budapest will enable us to increase our
productivity and meet the growing demand in a dynamic prostaglandin
market, growing at 5-7% per annum,” said Karl Rotthier, Chief
Executive Officer of EUROAPI.
This investment should enable EUROAPI to reduce its
environmental footprint thanks to a modern air handling system that
will lower the energy consumption of the new workshop. The
production plant will also be equipped with solar panels and a
fully closed waste handling system. It will feature highly
potent-API (HP-API) capabilities for potential further
developments.
About EUROAPI
EUROAPI is focused on reinventing active ingredient solutions to
sustainably meet customers’ and patients’ needs around the world.
We are a leading player in active pharmaceutical ingredients with
approximately 200 products in our portfolio, offering a large span
of technologies, while developing innovative molecules through our
Contract Development and Manufacturing Organization (CDMO)
activities.
Taking action for health by enabling access to essential
therapies inspires our 3,450 people every day. With strong research
and development capabilities and six manufacturing sites all
located in Europe, EUROAPI ensures API manufacturing of the highest
quality to supply customers in more than 80 countries. EUROAPI is
listed on Euronext Paris; ISIN: FR0014008VX5; ticker: EAPI). Find
out more at www.euroapi.com and follow us on LinkedIn.
Forward-Looking Statements
Certain information contained in this press release is forward
looking and not historical data. These forward-looking statements
are based on opinions, projections and current assumptions
including, but not limited to, assumptions concerning the Group’s
current and future strategy, financial and non-financial future
results and the environment in which the Group operates, as well as
events, operations, future services or product development and
potential. Forward-looking statements are generally identified by
the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans” and similar expressions. Forward looking
statements and information do not constitute guarantees of future
performances, and are subject to known or unknown risks,
uncertainties and other factors, a large number of which are
difficult to predict and generally outside the control of the
Group, which could cause actual results, performances or
achievements, or the results of the sector or other events, to
differ materially from those described or suggested by these
forward-looking statements. These risks and uncertainties include
those that are indicated and detailed in Chapter 3 “Risk factors”
of the Universal Registration Document approved by the French
Financial Markets Authority (Autorité des marchés financiers, AMF)
on April 14, 2023, under number R.23-009 and the Amendment to
Universal Registration Document approved by the AMF on April 25,
2023 under number R.23-015. These forward-looking statements are
given only as of the date of this press release and the Group
expressly declines any obligation or commitment to publish updates
or corrections of the forward-looking statements included in this
press release in order to reflect any change affecting the
forecasts or events, conditions or circumstances on which these
forward-looking statements are based.
______________________________ 1 Compound annual growth rate 2
Source: EUROAPI Universal Registration Document
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version on businesswire.com: https://www.businesswire.com/news/home/20230606005658/en/
Media Relations Contact: Laurence Bollack Mob.: +33 (0)6
81 86 80 19 mr@euroapi.com
Investor Relations Contact: Sophie Palliez-Capian Mob.:
+33 (0)6 87 89 33 51 ir@euroapi.com
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