EBRD invests €24m in Greek pharma firm Famar

The European Bank for Reconstruction and Development (EBRD) is committing €24 million alongside MidEuropa and other investors to support the acquisition of Famar, a prominent pharmaceutical contract development and manufacturing organisation (CDMO) in Greece.

This equity investment aims to bolster Famar’s growth strategy, which includes enhancing its production capacity and expanding research and development (R&D) facilities in Greece.

Famar, headquartered in Greece with additional production sites in Italy and Spain, specialises in manufacturing and distributing a diverse range of pharmaceutical, consumer health, and cosmetic products.

With new ownership, the company plans to invest heavily in upgrading its R&D and sterile manufacturing capabilities, focusing on transitioning its product offerings towards higher-value items.

Since its temporary establishment in Greece in 2015, the EBRD has invested over €7.9 billion across 115 projects, aiding the country’s economic recovery in various sectors, including corporate, financial, energy, and infrastructure.

Attribution: The European Bank for Reconstruction and Development (EBRD)

Subediting: Y.Yasser