August 19 (SeeNews) - North Macedonia-based drug maker Alkaloid [MSE:ALK] said on Monday that it is investing 11 million euro ($12.2 million) in the expansion of its solid form pharmaceuticals production capacity.
The new production and packaging facilities are expected to boost Alkaloid's capacity for production of solid form drugs by 50% to 3 billion tablets and capsules per year, the company said in a bourse filing.
The new facilities will spread on an area of some 7,000 sq. m. They are expected to become operational in the first half of 2020, creating 200 new jobs.
The drug maker increased its consolidated sales by 15% year-on-year to 5.53 billion denars in the first half of 2019.
Alkaloid has two subsidiaries in Macedonia, as well as 16 subsidiaries and three representative offices abroad - in Serbia, Montenegro, Kosovo, Albania, Bosnia and Herzegovina, Croatia, Slovenia, Switzerland, Bulgaria, Turkey, Ukraine, Russia, and the US.
Alkaloid employs 1,580 people in Macedonia and 420 people in its subsidiaries outside the country.
($ = 0.9010 euro)