Athens, November 9th 2021
On Tuesday, November 9, 2021, the CEO of the pharmaceutical industry, Mr. Dimitris Demos, presented the company’s multidimensional investment package for the period 2021-2027, worth EUR 356 million.
During a ceremony at the Stavros Niarchos Foundation – SNF Cultural Centre, Mr. Demos presented the company’s investments, which have already begun to take shape, in the areas of raw materials production, expansion of the production for final formulation, R&D and biotechnology. All company’s investments in Greece will add value to the economy, the labour sector, Greek medicine and science, while marking the new chapter in DEMO’s export activity with an international confidence boost.
In the opening of his speech, Mr. Demos made an overview from 2011 – 2019, the period of memoranda, up to the pandemic of 2020. He pointed out that “DEMO in this tough decade, based on the triptych of investment – extroversion – production, managed to resist the crisis, expanding its production capacity and increasing its turnover mainly thanks to its export capacity. In the 2020s, a new crisis, this time global, the COVID pandemic, came to add to the difficult investment landscape in the industry. DEMO, with its strong production capabilities, has been a leading player in this effort. It covered not only the needs of the Greek market, but also the urgent needs of other health systems, such as England, France, Germany and even Brazil and Bolivia. All this experience of the pandemic led to a revision of the European Union’s position, which is now trying to restore the production of medicines in Europe, so that the member countries do not depend on imports from third countries and do not suffer from serious shortages of medicines and materials again.”
At this point DEMO’s investment plan in Arcadia was unveiled with 3 units for the production of raw materials and 4 units for the production of final products for hospitals. Moreover, in terms of research and development, the company has already created new modern laboratories in Thessaloniki in the current year. The new 2,500-square-metre, ergonomically designed laboratories are housed in the company’s existing building in Northern Greece and, when fully developed, will employ more than 100 people from various scientific disciplines. The launch of the new R&D unit will result in the creation of new jobs for highly qualified scientific personnel and the strengthening of the company’s dynamics both in the field of injectable pharmaceutical formulations and in the field of pharmaceutical raw materials. Through these investments, in Tripoli and Northern Greece, DEMO will be able to produce 125 new hospital medicines and will be able to cover 20% of the needs of the whole of Europe. Moreover, it changes the landscape of the regions, increasing direct and indirect jobs, supporting local communities and providing an incentive for young scientists to stay in the country.
This was followed by a reference to new technologies and biosimilar products, areas where DEMO is again leading developments. As Mr. Demos remarked, “our country lags significantly behind the rest of Europe. In particular, any activity regarding the direct industrial development and production of biological pharmaceutical therapeutic products is virtually non-existent. As a result, Greece is largely deprived of the multiple benefits that the biotechnology sector could contribute to the country’s economic activity.”
DEMO SA is undertaking a significant investment to create prototype unit for the development of monoclonal antibodies. The investment will be made in Krioneri of Attica and will take into account another important sector, that of education and employment.
“The fact that our country has lagged behind the developments in biotechnology, while other countries have already made a lot of progress, has created a lack of know-how and the flight abroad of scientists who were willing to work in this field. DEMO, as the country’s largest producer of injectables and the largest exporter of owned branded products has a historic responsibility to the country and the industry. As a pioneer in the field of injectables, DEMO will establish the monoclonal antibody development unit alongside a Biocademy where they will train scientists to stay and contribute. DEMO’s investment will put our country in the “closed league” of the 15 countries active in this field worldwide and will contribute to the employment of highly educated people, who are currently employed in academia or in foreign companies.”, declared Mr. Demos.
The investments were welcomed by the Minister of Development & Investments Mr. Adonis Georgiadis, the Minister of Health Mr. Thanos Pleyris, the Deputy Minister of Finance Mr. Theodoros Skylakakis, the Deputy Minister of Development Mr. Nikos Papathanasis, the Deputy Minister of Health Mrs. Zoe Rapti, and on behalf of the business world the President of the Chamber of Commerce and Industry, Mr. Yannis Bratakos. The event was also attended by the members of the Board of Directors, with the President and Founder of DEMO, Mr. Stavros Demos addressing the audience and the Deputy Managing Directors Mrs. Stella Demou and Mrs. Ioanna Demou presenting data on sustainable development, circular economy and new technologies.
DEMO SA: INVESTMENT PLAN 2021-2017, 356 million
- Expansion of production in Kryoneri, Attica
- 3 units for the production of raw materials and 4 units for the production of final products in Tripoli
- Modern R&D laboratories in Thessaloniki
- Prototype unit for the development of monoclonal antibodies and a BioAcademy in Attica
About DEMO SA
DEMO SA Pharmaceutical Industry is active in developing, producing and trading pharmaceutical products. The company’s manufacturing plant, located in Kryoneri, Attica, is the largest in Southeastern Europe and one of the largest in the world in the production of injectables, with modern facilities of 66,000 sq.m. that include a state-of-the-art quality control laboratory. DEMO is the leader in hospital sales (in terms of units sold) of injectables of all forms, and has an extensive research and development program for controlled-release injectables. It is internationally recognized as one of the official suppliers of the United Nations, UNICEF, the World Health Organization and the International Red Cross. Find out more at www.demo.gr