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The Largest Generic Drug Factory In The State Of Minas Gerais Will Receive A Million-Dollar Investment For The Purchase Of Machines And Equipment
Minas Gerais will have a million-dollar investment, the generic drug factory of the Hipolabor laboratory in Montes Claros, which started operations in September 2020, is undergoing an expansion process. The company will invest R$ 80 million in the purchase of machines and equipment for the oral solids line, revealed the Diário do Comércio from Belo Horizonte.
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According to the company’s president, Renato Alves, despite being recently inaugurated, with investments of R$ 180 million, the generic drug factory will concentrate the upcoming investments from the pharmaceutical industry, given that the plant located in Sabará, in the Metropolitan Region of Belo Horizonte, is already operating at its production and expansion limit.
“The Sabará factory received significant investments between 2016 and 2019, and all possibilities for expansion have been exhausted. Moreover, it is a mature plant fully capable of operating,” Alves told the Diário do Comércio.
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According to the executive, last year, the Sabará unit nearly quadrupled its production of generic drugs. In the Montes Claros factory, of the R$ 80 million estimated for 2021, about R$ 30 million were allocated in the first two months of the year.
Furthermore, Alves noted that the new unit is the largest generic drug factory in Minas Gerais and the brand is the leading one in the segment in the state, as well as being a leader in the ranking of injectable drugs in the country. On a lot of 120,000 square meters, with 30,000 square meters of built area, the structure in Montes Claros has 14 buildings, including a factory, laboratories, and auxiliary services.
Favorable Impacts Of The Pandemic On Generic Drugs
Regarding demand, Alves stated that it remains high due to the Covid-19 pandemic, which he acknowledges is favorable to the business – the brand has at least ten items in its portfolio used in combating the new coronavirus. However, this does not diminish the lament for the epidemiological and sanitary situation of the world and the country. “It’s a contradiction. Our mission is to manufacture medicines that, on one hand, we are proud to contribute to saving lives; on the other, we hope everything ends soon,” he summarized.
According to the executive, in 2020, the company’s revenue doubled compared to the previous year. In relation to anesthetics and generic drugs related to Covid-19, the numbers more than tripled. For this year, the forecast is for growth, but on a smaller scale – between 15% and 20% over the previous year.
However, the strong domestic demand limited higher aspirations for Hipolabor. Despite receiving orders from abroad, the company could not fulfill them. “There was a lot of demand from the United States and Europe, but unfortunately, we did not have the capacity to serve them. We could not even meet domestic demand. In May, June, and July, we faced shortages in the country, making any attempts at export impractical, even at more favorable prices,” Alves emphasized to the newspaper.
According to the president of Hipolabor, the imbalance between supply and demand, which caused pharmaceutical prices to surge, was not responsible for the company’s good results. “The increases were not passed on. The improvement in performance from the previous year occurred solely due to the growth in the volumes we sold,” Alves highlighted.
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