The company which has facilities all over the world, ranging from Australia to Slovenia, will be investing €11 million to construct a state-of-the-art manufacturing facility at HalFar Industrial Estate wherein they will produce medical cannabis-based products. This facility will be the main access point for the company’s products into Europe and other markets.
MGC Pharmaceuticals will also be carrying out research and development activities in the field of medical cannabis, bioscience, chemistry, agronomy and clinical research. “Today, Malta has a global reputation for being a high-quality hub for the pharmaceutical industry. However, investors are also becoming increasingly optimistic about the opportunities the island offers in emerging areas such as the medical cannabis industry,” stated Minister Cardona.
During his address, the Minister said that since introducing legislation on the production of cannabis for medical and research purposes over a year ago, the industry has grown significantly and successfully. “By being the first EU member state to provide a regulatory framework, we were able to attract the right kind of business and this sector is already contributing to Malta’s economic growth.” Malta is already home to some of the biggest companies in the world and MGC Pharmaceuticals is yet another global company which has chosen Malta as the place to expand its operations in Europe. This investment will create 27 new quality jobs by the third year of operations.
Nativ Segev, Founder, Director & Head of Business Strategy of MGC Pharmaceuticals also addressed the press conference. During his intervention, Mr Segev said that “the signing of this contract represents the culmination of our ambition to centre our operations in Malta and be a part of this island nation’s drive to become a beacon in Europe for the growth and development of this industry.”
Press Release by the Ministry for Economy, Investment and Small Businesses
Published: 08 August 2019
Photo Credit: Jason Borg
