Pharmaceutical firm mulling expansion of Malta-based operation

American pharmaceutical company Cardinal Health is considering expanding its European business based in Marsa, which has an annual revenue of $22.1 million.

The Marsa factory is the only one in Europe after a spin-off that took place in the Cardinal Health corporation in August, director Eucharist Baldacchino said yesterday.

The company manufactures medical and surgical products, including gloves, surgical equipment and fluid management products and employs about 30,000 people worldwide.

Set up in 1995 with 55 employees and an initial investment of $5 million, the Cardinal Health factory in Malta now boasts a workforce of 110 people and an overall investment of $15.4 million.

During a visit to the factory yesterday, Prime Minister Lawrence Gonzi said Cardinal Health was an excellent model of an investment strategy where Malta was successful in the manufacturing sector.

Through the company's investment and government incentives, Cardinal Health excelled in its field, Dr Gonzi said. In fact, this year, the company managed to sweep six out of eight awards given by its parent company.

Cardinal Health was a clear example of the country's competitiveness and its potential for economic growth, Dr Gonzi said.

"The most important thing is to remain focused. The difficulties of other countries can be opportunities for Malta," he said.