Rafa Laboratories Ltd. has begun construction of its new pharmaceutical plant at Har Hotzvim in Jerusalem, at an investment of NIS 130 million. The plant is part of the company's strategy to expand its exports over the next decade.
The new plant is supposed to provide 300 jobs to residents of Jerusalem and its environs.
The new plant will replace Rafa's current plant in Jerusalem's Romema neighborhood. Rafa says the to combined advantages of the company and the country helped it in the selection processes over potential production sites elsewhere, such as in the Far East and in Ireland.
The new plant, which will cover 10,000 square meters, will take three years to build. Rafa believes that it will be able to begin production at the new plant in 2013, and export products.
Rafa said that it has signed supply contracts worth millions of shekels with its international partners. Products from the new plant will first be exported to Europe, and later to other destinations worldwide.
Rafa CEO Yaron Zakhyem said, "While most pharmaceutical companies in Israel operate in the generic sector, Rafa believes that, from a long-term perspective, the potential of generics will be filled in the coming years. The company has therefore chosen to examine the development of patent-protected original products. This strategy will enable the company to bring to bear its outstanding advantage in the pharmaceutical market, its marketing capability."
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2010
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