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In Order to Expand the Production of “Intubation Kit” Medications for Covid-19 Patients, Cristália Pharmaceutical Laboratory Is Investing About R$ 300 Million in Its Pharmaceutical Industry in Minas Gerais.
Minas Gerais will receive investments of R$ 300 million for a new pharmaceutical industry, which promises to create jobs for over 700 residents of the region. One of the goals of the investment will be the expansion of the production of “intubation kit” medications, which are used in the sedation of patients with severe Covid-19 symptoms.
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The industry belongs to Cristália Pharmaceutical Laboratory and will be established in Montes Claros, in Northern Minas Gerais. This Tuesday (01), the Laboratory officially announced the acquisition of a property located in the former Santanense textile factory for the establishment of the pharmaceutical industry.
The company also stated that the investment will bring over 700 direct jobs to the local community in the next five years. Cristália negotiated the property with the former owner, Coteminas, four months ago.
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The companies did not disclose the sale price, but it is known that the property has 156,000 square meters, of which 30,000 are built-up area. The company estimates that production at the industry in Minas Gerais will begin in 2023.
Cristália Pharmaceutical Laboratory Speaks About the New Investment in Minas Gerais
According to the president of the Board of Directors and general director of Cristália Laboratory, Ricardo Pacheco, although the current need is for the production of “intubation kit” medications, this plant will be used for various other purposes and will be ready to produce several other types of medications.
The company also announced that it chose Montes Claros for the pharmaceutical industry due to the tax incentives provided for the establishment of industries, and also because the property has excellent infrastructure, further accelerating construction.
The CEO of the company emphasized that the region has a highly qualified workforce, which is a positive point for future hiring, as about 700 job openings will be created in the next five years. Pacheco also states that this acquisition is part of Cristália’s strategy to expand, working hard to meet market demand in the coming years, which has grown exponentially.
Montes Claros Gains Prominence in the Pharmaceutical Industry
With the announcement of the investment, the municipality in Minas Gerais became a new hub for the pharmaceutical industry in the country. It also hosts units of Novo Nordisk, one of the largest insulin producers in the world, and MSD Animal Health, which manufactures vaccines and veterinary products. Additionally, some units of Eurofarma and HIPOLABOR laboratories are already under construction in the municipality.
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