Our multiple manufacturing facilities provide us with the flexibility to select the most appropriate manufacturing strategy for a particular product, taking into account factors such as cost, regulatory requirements and capacity.
Our facilities in Jordan and Saudi Arabia are FDA approved, therefore, we have the flexibility to produce products for the US market in the MENA Region, at a lower cost. In some markets, like Algeria, having a local manufacturing presence is essential for building market share as regulations can restrict the range of products that can be imported. Our newly acquired injectable plant in Italy has provided extra capacity needed to meet demand for our injectable products in European markets.
We are dedicated to maintaining the highest standards at our manufacturing facilities, as our FDA approval record attests – all of our facilities are FDA approved, bar Algeria and Italy. This is of particular importance in our Injectable business, where the manufacturing process is more technically challenging than for solid or liquid products and where production is subject to very strict quality and anti-contamination controls.
We have made considerable investment in these facilities, dedicating $20 million of the IPO proceeds to the construction of a new cephalosporin plant in Portugal. Since the IPO, we also completed the construction of our Algerian plant, made improvements to our lyophilisation plant in Italy and expanded production capacity in Jordan and the US. We have also added new facilites in Germany, Egypt and Jordan through acquisitions.
Our manufacturing facilities around the world: