The new company will initially employ 60 people

Global pharmaceuticals company Cetic is planning to set up a €15 million plant in Malta by not later than 2019, creating 60 jobs, Economic Services Minister Chris Cardona announced Tuesday.

The announcement was made during the signing of a letter of intent between the company,  Malta Enterprise and Malta Industrial Parks for the acquisition of a site at the Ħal-Far industrial zone.

The pharmaceutical company specialises in nasal sprays and ophthalmic products.

The announcement follows remarks made last Sunday by the Prime Minister who said that this week there would be “good news” in terms of investment and employment.

In a brief address, Dr Cardona spoke on government’s efforts to reduce red tape to make life easier for local and foreign investors.

Source: TimesofMalta