- 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
PARIS–(BUSINESS WIRE)–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.
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.
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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