Famar - Rebuilding Contract Manufacturing and Development
When it comes to the timely delivery of high-quality pharmaceuticals, the healthcare industry is currently grappling with a slew of issues. Famar is a partner in European Contract Manufacturing and Development for the healthcare and pharmaceutical sectors. They are a dependable partner for adaptable solutions, from research through manufacturing and distribution, building on over 70 years of experience. They provide services for the majority of pharmaceutical forms while having a strong focus on liquids, ointments, and creams since we have a customer-care mentality. While many firms struggled to survive at the commencement of COVID-19, Famar, a major European contract development, and manufacturing company saw it as the ideal chance to rebuild. Konstantinos Rengis, the CEO, states “The business has been through some trying years.” “However, Famar started a new phase in March 2020 after being acquired by investment firms Elements Capital Management and York Capital Management. Since then, under the shadow of the worldwide pandemic, we have been concentrating on bringing the firm around after years of crises and difficulties. Famar has implemented its EHS strategy and EHS System across the whole company as part of its commitment to environmental, health, and safety (EHS) excellence. These provide a set of activities for all parties involved (including Employees, Customers, Suppliers, and the Community). The EHS System is created to guarantee that Famar will adequately protect employees who work there and anybody else who could be impacted by its operations.
Even though the epidemic made things more difficult, Famar was ultimately strengthened by it. “COVID-19 gave us the chance to show off our flexibility and ingenuity,” says Konstantinos. “Despite operating in some of the worst-affected regions of Europe, namely Italy and Spain, we continued our full operations, without interruption. “To restore the functionality of our facilities and equipment and expand our capacity for important dosage forms, we were also able to make a record amount of capital expenditure. The years between 2020 and 2021 have strengthened our organization’s capacity for adaptability and growth, enabling us to effectively navigate even the most challenging, unpredictable, and uncertain situations. Another unanticipated benefit of the crisis was that it improved Famar’s connection with its clients. Despite travel restrictions and the absence of face-to-face interactions, Konstantinos says, “We are now even closer to them.” “We are in frequent contact to foresee changes in their demand, ensuring that we can provide the medications that their patients require on time and preventing out-of-stock concerns. This is significant since many of the drugs we manufacture for our clients are vital, life-saving medications.”
Konstantinos claims that now that the CDMO is back on stable ground, its primary emphasis is on making investments and progress across the board. For medicines, medical devices, and healthcare goods, it now has six production facilities and two research and development centers in Greece, Italy, and Spain. He explains, “In the new Famar, we have been investing in our tangible and intangible assets, our business, and the heart of our force, our people. “In addition to making investments in our culture, which prioritizes the needs of our customers, it is evident that a transition is occurring toward more difficult-to-make pharmaceuticals with potent chemicals. Therefore, we are making significant investments in the newest, most potent capabilities and R&D service offerings.”
At Famar, a strategic focus is placed on ongoing investments in quality, technological know-how, and equipment, as well as the consistent enlargement of its service offering. With this emphasis, the flexible structure of the CDMO is enhanced, allowing for a continuous increase of drug research and manufacturing services for its 120+ clients in 80 markets across the world – a global footprint that it intends to expand in the upcoming years. The business is continually searching for the ideal acquisition opportunity that would enable it to expand its technological capabilities and market reach. By doing this, it will strengthen its position in a time when there will be increased competition. Konstantinos says that Famar is “fast adjusting now more than ever to an ever-changing and extremely demanding pharmaceutical market, delivering flexibility and new solutions to quickly satisfy the demands of its clients.”
“The demand to lower the expenses of the pharmaceutical sector will only grow in the future. Additionally, the industrial and supply chain segments of the business heavily rely on CDMOs. Because of the crucial role we play in the manufacture and distribution of medications to patients in need all over the world, Konstantinos says, “we must adopt procedures that considerably boost productivity and efficiency to lower industry costs”. “Our customers, employees, local and global health systems, and society depend on us and our consistent supply of services for medication research and manufacture. And that demand serves as our commitment, our purpose, and our standard of excellence,” Konstantinos concludes.
Konstantinos Rengis, CEO
“By facilitating successful outcomes with thousands of pharmaceutical companies, we have built a strong reputation for oral solid dosage (OSD) product development services from pre-formulation through clinical and commercial GMP manufacturing.”