Cyprus has a 30-year history of exporting generic pharmaceuticals and the United Kingdom has been one of its largest export markets. Due to the small sized, fragmented local market Cypriot pharmaceutical companies have early established that it is more strategically wise to export products overseas.
Cypriot companies are dedicated to the development, production and sale of high-quality generic and own branded pharmaceutical products. These fall into a wide range of therapeutic categories such as antibiotics, analgesics, cardiovascular drugs, diuretics antihistamines, antidiabetics, hormones and synthetic substitutes, vitamins, cough medicines and expectorants and more, in oral (solid and liquid), parenteral, topical and rectal presentations.
Pharmaceuticals have been the most valuable export for Cyprus for a number of years valued over €350 million. The constant growing value of exports in the pharmaceutical sector confirms the state-of-the-art production lines, the introduction of most recent technologies and the guaranteed high-quality products that meet all EU standards.
There are also other benefits that Cyprus offers including a similar legal system to the UK, highly trained English-speaking staff, an export-driven mentality, and an excellent geographic location at the crossroads of Europe, Asia and Africa. There is also the possibility of in-licencing products and putting contract manufacturing agreements in place.