Companies
Moldova Invest in dialogue with Vasile Cazacu, General Director of Balkan Pharmaceuticals
Balkan Pharmaceuticals is a pharmaceutical manufacturing company founded in 2006, representing the largest Romanian private capital investment in the Republic of Moldova and the country’s sole producer of injectable/perfusable forms
At present, Balkan Pharmaceuticals operates two functional production units in the Republic of Moldova and one under investment in Romania. In this regard, the company’s General Director, Vasile Cazacu, explained in the interview that one of the company’s objectives, expanding its presence on both sides of the Prut River, is close to accomplishment, with medium and long-term goals focused on diversifying the range of pharmaceutical products.
Please provide us with a description of your company’s profile in terms of its scope of activity and assumed economic goals
Balkan Pharmaceuticals was founded in 2006. It is a pharmaceutical manufacturing company, representing the largest Romanian private capital investment in the Republic of Moldova, and at the same time, it is the sole producer of injectable/perfusable pharmaceutical products in the country.
Balkan Pharmaceuticals has two operational production units in the Republic of Moldova and one under investment in Romania, so soon we will be able to say that we are present on both sides of the Prut River, off ering a diversified range of supplements, medical devices, and medicines in various doses and pharmaceutical forms (such as tablets, capsules, injectable solutions and suspensions, powders, infusible and oral solutions) intended for the treatment of nervous system, cardiovascular, endocrine, digestive, anti-infl ammatory, analgesic, antifungal, antitumor conditions, etc.
“ Our concern is to increase the export rate of production from the current 20% to 60% by the year 2030.”
The modern complex in the town of Sângera represents one of the largest pharmaceutical factories in Eastern Europe, with 4 GMP certified industrial streams at the European level, ensuring the production of over 250 medicines, dietary supplements, and medical devices in various forms and doses.
The other production unit, located in Chișinău, Str.Gradescu, is a research and production laboratory for antibiotic medicines. The industrial complex in the city of Pașcani, Iași County, is a project funded by the European Union, with a project value exceeding 10 million euros.
When did you enter and what were the arguments for deciding to enter the relevant market of the Republic of Moldova, and how do you currently evaluate this decision?
The first products were launched on the market of the Republic of Moldova in 2008. In the meantime, we have ensured our role as the main supplier of medicines for the pharmaceutical market in the Republic of Moldova.
The decision to invest in the Republic of Moldova was encouraged by the legislative provisions at that time, with companies being exempt from customs duties, VAT, and profit tax for making an investment. Let’s not deny that the absence of communication barriers, along with a similar mindset, contributed to creating a conducive environment for launching the business. Currently, we evaluate this decision as appropriate and timely, made at the right moment.
How do you assess the development prospects of the company you represent in the Republic of Moldova?
The role we have assumed, along with the multitude of ongoing projects, including at the international level, makes us confi dent in the success and development prospects in the medium and long term. The current disadvantage is the uncertainty arising from the armed confl ict in Ukraine, combined with the unprecedented rise in energy resource prices, as pharmaceutical production activity is characterized by a high level of energy consumption. Our concern is to increase the export rate of production from the current 20% to 60% by the year 2030.
What expectations do you have from the authorities in the Republic of Moldova regarding your activity?
We could tell you that we trust their duties will be carried out in good faith, with good intentions, and in a professional manner by all representatives of political power. We believe there is room for even better dialogue to jointly achieve projects of national interest, which actively contribute to ensuring the pharmaceutical security of the country. It is natural and appropriate for governance decisions to consider the fact that economic enterprises provide a significant source of revenue to a country’s budget.
