Tripoli, a city in the central part of the Peloponnese, is emerging as a key European medicine hub, with significant investments from three major pharmaceutical groups currently present in the area and two more Greek firms reportedly scouting land for potential manufacturing facilities in the region.

The significant investments by the domestic pharmaceutical industry that are already being implemented include Demo, led by Dimitris Demos, and Win Medica of the ELPEN group. Faran, led by Mario Katsikas, is also making strides with a third investment.

With a combined investment of approximately 180 million euros, these ventures are expected to generate over 1,000 highly skilled and well-compensated positions.

The pharmaceutical industry aims to meet 75% of Greece’s medication needs, up from the current 60%, potentially easing shortages significantly. Theodoros Tryfon, President of the Panhellenic Association of Pharmaceutical Industries (PEF) and co-managing director of the ELPEN group, highlighted this during the “Investments, Research, and Innovation” event in Tripoli on Saturday, March 30th, emphasizing the sector’s promising path forward.

Tripoli’s selection stems from various factors, including the investment incentives offered, notably through the just transition development plan following coal phase-outs in nearby regions like Megalopolis, in the Peloponnese. Additionally, its proximity to Athens adds to its appeal.

Furthermore, Health Minister Adonis Georgiadis revealed plans for the investment clawback to extend beyond 2025, with a scheduled meeting with pharmaceutical industry representatives in the pipeline.

Highlighting the necessity for investments, Georgiadis mentioned the government’s push for a new development bill aimed at processing, signaling to multinational pharmaceutical firms to establish production units akin to Pfizer’s hub in Thessaloniki.