Greek pharmaceutical industry investment to ensure European supply

Near Tripolis in the Peloponnese, a new pharmaceutical science park is taking shape that will significantly boost Greek exports of key medicines to Europe and beyond. The facility will help strengthen EU medical supplies and expand Greece’s role in the life sciences sector.

Backed by nearly €500 million in investment from three leading Greek pharmaceutical companies, the new research and production complex will enable Greece to supply up to 30% of EU demand for selected medicines. The Tripolis hub in the central Peloponnese will include three factories developed by DEMO, Win Medica of the ELPEN Group, and FARAN.

“A significant quantity of medications that cover both Greek and European needs will be produced here,” said Prime Minister Kyriakos Mitsotakis during a visit last month. “At a time when discussion of Europe’s strategic autonomy is growing, I understand how important of an added value such investments are for Greece.”

The pharmaceutical industry is one of the most dynamic sectors of the Greek economy, playing a vital role in healthcare and trade. According to a recent report by IOBE, a Greek think-tank, pharmaceutical exports reached €2.8 billion in 2024, accounting for 5.7% of total goods exports, with Germany, Austria and Cyprus as the main destinations.

In 2023, the pharmaceutical sector’s total contribution to the Greek economy was estimated at €6.9 billion, or 3.1% of GDP. For every €1 of added value generated by pharmaceutical companies, another €1.3 was created across the wider economy. The sector also provides an estimated 119,000 jobs, or 2.8% of total employment in Greece.

The new facility will include industrial-scale production of basic materials – for the first time in the country – something that will have a knock-on effect in strengthening domestic research and innovation. In total, the new science park is expected to support more than 1,500 jobs and serve as a magnet for research professionals.