Crown Pharmaceuticals and Research Laboratories Limited says it expects to make an annual forex generation of more than U$ 10 million (K3 billion) from exports in the Sadc region in the initial phases of their operations.
The company, currently operating from Maselema in Malawiâ€™s commercial city, Blantyre, is building a pharmaceutical manufacturing facility on a 10-hectare land at Maone Park in the city.
The firm has just finalised the facilityâ€™s first phase and are already producing cosmetics in the new companyâ€™s cosmetic division.
Crown Pharmaceuticals chief executive officer Balakhrishna Shibu said on Tuesday the generation of foreign exchange will pick up when products are exported to South Africa and European Union (EU) countries in the second year of operations.
Â â€œThe cosmetics division producing personal care, beauty care and baby care products is now functional and the products are widely accepted by the market. We will start producing pharmaceutical products in form of tablets, capsules and liquid orals in March 2013,â€ he said.
Shibu said the whole project is pegged at $21 million (K6.3 billion) and will create jobs for about 700 people.
When completed, the manufacturing facility will have five divisions; research and development; non beta lactum tablets, capsules and liquid orals division; infusion division;Â beta lactum tablets, capsules, dry syrup and injectables division and the ointment and jelly division.