Pharmaceutical Companies Registered in Malta and Growth of the Pharmaceutical Industry in Malta
The Pharmaceutical industry in Malta has developed and grown significantly in recent years, becoming a strong contributor to the local economy. This dynamic industry has taken advantage of the many positives that Malta has to offer. Apart from the obvious geographical advantages which provide for the development and manufacturing of medicines with the quick opportunity to infiltrate markets such as south Europe and North Africa, Malta offers linguistic skills with the promotion of multilingualism throughout the Maltese educational system, individuals with academic degrees in chemistry and skilled work labour force in the use of high-precision machinery.
Malta’s legal framework offers significant advantages to such organisations. It allows pharmaceutical companies to undertake all the preparatory work, including clinical trials and testing, for the purposes of obtaining regulatory approval or other commercial purposes prior to the expiration of the lifetime of an existent patent. Subsequently, once the patent expires, the Malta based generic pharmaceutical company may immediately put its newly developed product on the market without undue delay and before any of its competitors.
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Medicinal products which have been placed on the Maltese or EU market need to have a marketing authorisation as per the medicines act and the medicines regulations. Being a full member of the European Union, Malta employs the Mutual Recognition Procedure whereby once any one member state has been granted marketing authorisation by any local EU competent authority, this shall be held in common with other member states. Pharmaceutical companies established in Malta and looking to trade with the rest of the EU, are thus not required to attain further authorisations from any other competent EU authority as they benefit from the mutual recognition of marketing authorisations.
Pharmaceutical companies registered in Malta may also take advantage of the various tax refunds available to such companies, ultimately resulting in an ultimate tax leakage of just 5%.
Contact one of our officers to initiate the incorporation of a Maltese registered company and start reaping the full benefits of an onshore, low-tax, EU jurisdiction. Simply fill in the contact box below or contact us by email on email@example.com or by calling at +356 2338 1500
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