Bulgaria’s Tchaikapharma plans to build third plant near Sofia

Tchaikapharma High Quality Medicines AD (BSE: 7TH) intends to build a third manufacturing plant in the village of Kazichene near Sofia. This became clear from documents published in the Commercial Register in connection with the forthcoming general meeting of shareholders, scheduled for June 22, 2020.

The investment is scheduled to be completed by the end of 2022 and its workload will be almost achieved by 2026 in a favorable economic environment. The company plans to increase its production capacity with 500 million tablets annually in addition to the 450 million currently produced.

The company has two plants – one in Varna and one in Plovdiv. Both structures operate at almost maximum capacity and produce almost 160 medicinal products.

Tchaikapharma currently has long-term partnership agreements for the sale of medicines with companies from the Czech Republic, Slovakia, Germany, Kosovo and Yemen. Advanced negotiations are also underway with other EU companies. A few more long-term contracts are expected by the end of the year.

Find the full article here in Bulgarian.