Douglas Pharmaceuticals $10 million facility opens in Nadi
A new $10 million facility extension by Douglas Pharmaceuticals of New Zealand will help create new jobs and improve living standards for Fijian people said Fiji?s Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum.<!--more-->
The opening? of the extended?manufacturing facility was held in Nadi on Monday.
In a report from the Fiji Sun, Mr Sayed-Khaiyum said the investment by Douglas Pharmaceuticals was a show of confidence in Fiji?s economy. Such investments helped Government with its drive and focus on economic growth. ?Economic growth means creation of new jobs, it means an improvement in the living standards of our people, it means things like free education, free textbooks, subsidised bus fares and of course with the scholarship system and the TELS programme that we have developed now for the education system,? he said.
The state of the art plant in Fiji manufactures high quality, affordable health care products for export markets. The facility is fully-equipped commercial facility for manufacturing capsule and tablet products.
Earlier in the year Douglas Pharmaceuticals Fiji signed a 5-year MOU with Fiji National University to provide a partnership for teaching and learning pharmaceutical engineering programme using good manufacturing practice. The programme provided for a certificate in Manufacturing Engineering and is a New Zealand Qualifications Authority equivalent.
Douglas Pharmaceuticals is New Zealand?s largest developer and manufacturer of generic pharmaceuticals. By 2015, the NBR reported the company was targeting annual revenues of $244 million by 2020 up from $145 million through diversification, higher risk, higher reward opportunities in new drug development. The company was set up in 1967 by founder Sir Graeme Douglas who created a cough syrup.? He stepped down from the day to day running of the business in 2014, leaving the management of the business to his son Jeff. Sir Graeme Douglas died at 87 in 2016.