Boehringer invests in expanding Greek production site

German family-owned pharma major Boehringer Ingelheim has announced a further expansion and upgrade of its manufacturing plant in Koropi, Greece, where the pharmaceutical market is forecast to grow by 8.2%, from $7.5 billion in 2022 to $7.8 billion in 2023. By 2027, the market is predicted to reach $9.8 billion.

Boehringer said it would invest 120 million euros ($132 million, which will increase the manufacturing capacity of new and existing medications, some of them in the late-stage development of the company’s strong innovation pipeline. Main disease areas include cardio-renal-metabolic (CRM) diseases, mental health, and pulmonary fibrosis.

The production facility in Koropi started in 1975 and was expanded in 2020. The latest expansion will create 110 additional jobs and boost medicine exports from Greece, particularly of Jardiance (empagliflozin), the company’s med for the treatment of type 2 diabetes, chronic (long-term) heart failure and chronic kidney disease, to the US market. Jardiance generated first-half 2023 global revenues of 3.5 billion euros for Boehringer.