The Catalan pharmaceutical company, Reig Jofre, announced that it will have a factory ready in Barcelona where vaccines against the coronavirus will be developed in the first quarter of 2021. At the industrial plant, where activity is expected to begin in the second quarter of next year, it is estimated that some 50 million vaccines can be produced.
The group controlled by the Reig family has invested 30 million in the creation of the factory in the city of Barcelona. There will be produced not only vaccines against COVID-19, but also injectables will be developed to immunize against other diseases. In addition, according to Reig Jofre, not only will brand products be created but it will also be produced for other companies.
Economic growth despite the pandemic
Reig Jofre has communicated to the National Securities Market Commission (CNMV), the stock market regulator in Spain, the turnover of 170.4 million euros up to the month of September, 15.8% more compared to the previous year. In addition, the total profit was 5.34 million euros, exceeding last year’s income by 135%.
The Catalan company has not suffered financially after the pandemic. According to the CEO of the brand, Ignasi Biosca, international growth and the sale of essential medicines have been the key to facing this crisis. The fall in the sale of other products with a significant weight in Reig Jofre’s annual turnover, such as antibiotics or dermatologicals, due to the reduction of infections and the elimination of medical visits, has been alleviated with the incorporation of the product catalog osteoarticular.