SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Latest in Investments
Politics
arrow
Browse Politics
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
SEE TOP 100
arrow
Browse SEE TOP 100
Latest in SEE TOP 100
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Huvepharma opens 72 mln euro veterinary vaccines plant - report

Jun 18, 2024, 4:38:40 PMArticle by Mihaela Miteva
share
June 18 (SeeNews) - Bulgarian animal and human health and nutraceuticals company Huvepharma opened on Tuesday a new veterinary vaccines plant, following an investment of 140 million levs ($76.7 million/71.6 million euro), state news agency BTA reported.

Huvepharma opens 72 mln euro veterinary vaccines plant - report
Huvepharma fermentation plant in Peshtera, Bulgaria. Photo: Huvepharma

The facility in the northeastern city of Razgrad will produce vaccines for birds, cattle and pigs, according to BTA. The plant with a total area of 12,000 square metres currently employs 70 staff, which will increase to over 300 when the plant reaches full capacity.

The construction of the plant started at the end of 2019.

"It was a challenge for all of us, it took a lot of effort and time to be able to make a large-scale plant that, based on our expectations for sales growth, would guarantee capacity for the next seven to eight years, without having to build new capacities", BTA quoted Huvepharma CEO Kiril Domuschiev as saying.

Domuschiev added that the plant is already producing its first vaccines for both domestic and international markets and expects that 99% of the output will be exported to over 100 countries.

Huvepharma's subsidiary, pharmaceuticals producer Biovet, also operates a manufacturing unit in the city of Razgrad.

Huvepharma distributes its products in over 100 countries and operates production facilities in France, Italy, Bulgaria and the U.S. focused on biotechnology, vaccines and veterinary medicines.

(1 euro = 1.95583 levs)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.