The building, located near Tallinn Airport on Nuia tänav, covers an area of 21,000 square meters; it will house a pharmaceutical laboratory, production and storage areas, as well as offices, the company said.

The investment amounts to €50 million, and the majority of the production will be exported.

According to the company, it will be the most modern veterinary medicine plant in Europe.

Veiko Saluste, a member of Pharmapark's management board, said that the plan is to produce approximately 200 different brands of medicines and export them to approximately 200 countries. When the plant is running at full capacity, it will employ 150 to 200 people.

The Tallinn plant will gain a competitive edge from the new regulations for the European veterinary market, which mandate the modernization or construction of new factories, given that some European factories are already closing.

"First, you need to get production up and running and make transfers to certain companies. Bringing production to Estonia is a long process. We are talking about a five- to seven-year horizon and we are looking at a turnover of €100 to €150 million," he explained.

"We hope that we will be able to start production next month. We have a manufacturing license; it's been in operation for a long time, but we don't have a good manufacturing practice (GMP) certificate yet. That's what we are waiting for," Saluste told "AK."

60 percent of PharmaPark OÜ is owned by Alfasan Holding B.V. and 40 percent by OÜ Eesti Farmaatsia Grupp.

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