Tchaikapharma High Quality Medicines AD (BSE: 7TH) intends to build a third manufacturing plant in the village of Kazichene near Sofia. This became clear from documents published in the Commercial Register in connection with the forthcoming general meeting of shareholders, scheduled for June 22, 2020.
The investment is scheduled to be completed by the end of 2022 and its workload will be almost achieved by 2026 in a favorable economic environment. The company plans to increase its production capacity with 500 million tablets annually in addition to the 450 million currently produced.
The company has two plants – one in Varna and one in Plovdiv. Both structures operate at almost maximum capacity and produce almost 160 medicinal products.
Tchaikapharma currently has long-term partnership agreements for the sale of medicines with companies from the Czech Republic, Slovakia, Germany, Kosovo and Yemen. Advanced negotiations are also underway with other EU companies. A few more long-term contracts are expected by the end of the year.
Find the full article here in Bulgarian.
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Professor Toni Vekov in an interview with NOVA: Tchaikapharma R&D Team worked around the clock to develop our own dossier
Within the next ten days, Tchaikapharma will produce about 5,000 packs of MoriVir (hydroxychloroquine), and in another week, at least 20,000 packs of GraVir (chloroquine). “Every Bulgarian diagnosed with COVID-19 will have the opportunity to be treated”, said Vekov, biotechnology engineer and one of Tchaikapharma’s founders.
See the full interview here in Bulgarian.
Within a couple of days, Tchaikapharma is about to produce the first 5,000 MoriVir (hydroxychloroquin) packs for the front-line hospitals in the battle against COVID-19, and in May, another 20,000 GraVir (chloroquine) packs for further hospital treatment. “From May onwards, we expect a regular production, but it all depends on access to substances, which is currently extremely difficult worldwide for well-known reasons”, Prof. Toni Vekov said in an interview with the Trud daily. The two medicinal products are in process of registration, and once they have been granted marketing authorization, they could be distributed to the pharmacy network and would thereby be available for patients on prescription only.
You can find the full original interview here in Bulgarian.
Tchaikapharma High Quality Medicines received a thank-you letter from Prof. Diana Ivanova, Ph.D., Dean of the Pharmacy Faculty at the Varna Medical University in connection with the “empathy and friendly support”, which the company traditionally attests to graduates in Pharmacy. 54 young pharmacists graduated at this year’s graduation ceremony 2019.
The original letter is available here in Bulgarian.
In 2019 Tchaikapharma (BSE:7TH) affirmed its leadership through successful development of scientific projects based on the advanced research on the development and integration of innovative combo medicines, some of which never used before in the global medical practice. Series of laboratory research and clinical studies are conducted in collaboration with European and American companies, namely in the fields of cardiology, endocrinology and neurology.
Combination of different well-known molecules in PolyPill has a beneficial effect on patients, whose increased value is represented by cost-effectiveness and improved therapeutic outcomes and life comfort. Combination of substances provides the attractive opportunity to optimize admission of various medicaments in one dosage. Tchaikapharma is implementing a strategy of prioritizing patient care above all. Evidently holds on to the principles of corporative responsibility towards the community and constant innovative growth, thus managing to enter foreign markets with main focus on European countries.
In an environment of increased pressure pension funds and minimal or negative interest rates of deposits in the majority of European countries, long-term investments in Tchaikapharma (BSE:7TH) proved themselves fruitful for numerous investors. Essentially, this trend is projected to continue through strengthening market presence outside Bulgaria.
Tchaikapharma started crucial consolidation of its resources in order to expand its business model beyond our borders. So far, 10 pharmaceutical products have been registered in 7 EU countries. The initial stage of market entry seems to be highly optimistic.
Taking into account the great market opportunities and bright prospects of Tchaikapharma’s modern portfolio, in 2019 started the design and construction of a third state-of-the-art manufacturing complex for tablets, capsules and sterile ampules, which will be dedicated to supply European markets. The new facility will feature robotized equipment and a next-gen AI process control panel, including a modern storage for pharmaceutical forms that are ready to set.
Deeper entry in the fields of oncological drugs R&D is supported by another revolutionary project in 2020 – a projected investment in NGS (next generation sequencing) laboratory that will enable elaborate research of human gene and detection of mutation which are highly relatable to specific oncological diseases. This would allow therapy to be optimized personally for each patient, providing maximum suitability and efficacy.
Therefore, the possibility of positive therapeutic response is increased many-fold, and side effects inherent to conventional methods of oncological therapy, limited. Consequently, such personalized therapeutic approach based on NGS analysis, minimizes the risk of disease relapse. The high-tech laboratory will be one of its kind in the Balkans and will provide patients form the region (East of Munich) health technologies solely available in some countries in Western Europe and the USA.
Today, Tchaikapharma is one of the largest companies on the Bulgarian Stock Exchange, with market cap of 895 million BGN as of the end of 2019 – trustworthy of its numerous investors and immense prospects.
The original article is available here in Bulgarian.