Wednesday, 14 March 2012
PM Gets Acquainted With Pharmaceutical Company’s Development Programs As Part Of Industrial Strategy
Prime Minister Tigran Sargsyan visited today Vitamax-E pharmaceutical company as part of the government’s export-oriented industrial strategy. The Prime Minister got acquainted with the production processes, future programs and development prospects.
Operational since 1997, the company produces Marine probiotics in line with GMP international standard. It is exported to Ukraine, Japan, Russia, Belarus, Latvia, Lithuania, Uzbekistan, Kazakhstan, Belgium, Germany, the United States and other countries.
An important new direction is the production of natural fruit, vegetable and meat powders that are used in the pharmaceutical and food industries. A program is out for the production of high quality baby food based on environmentally friendly domestic raw materials.
The company is well-equipped for the production of lactic ferments, which are used in the manufacture of matsun, yogurt, sour cream, cottage cheese.
The annual output level rose to USD 1mn in 2011, with about half of the production exported to foreign countries. The company employs 75 people with an average salary is 110 thousand drams.
Vitamax-E is planning to implement a program of expansion using the proceeds of the loan expected from “SME Investments” UCO to the amount of 300 million drams. The company is going to set up a new capacity by means of technological investments.
As a result, jobs will be up from the current 75 to 100, ensuring increased exports toward new markets.
