Overview

The Cyprus Pharmaceutical Manufacturers’ Association (Cy.Pha.M.A.) is a non-profitable organisation founded to project Cyprus, both locally and overseas, as a country with a high technological standard in the manufacture of pharmaceutical products and to further enhance the good reputation already enjoyed by the local pharmaceutical industry.

It is the official body representing the Cyprus pharmaceutical industry and its Members follow the European and International guidelines and regulations that define the operation of pharmaceutical manufacturers and their products circulate in more than 100 countries throughout the world thereby acting as ambassadors of Cyprus in all of these places.

 

The importance of the local pharmaceutical industry to Cyprus

Cyprus has greatly benefitted from the existence of a local pharmaceutical industry in a number of ways:

  1. Supply to both the public and private sectors of high quality, safe and efficacious pharmaceuticals at affordable prices
  2. Employment of hundreds of people and in particular scientists (pharmacists, chemists, doctors, microbiologists, engineers etc.)
  3. Projection of Cyprus as a country with high technological standards
  4. Valuable foreign exchange earnings
  5. Additional income for many other local industries (plastics, corrugated boxes, printers, etc.) and services (advertising, transport, forwarders)
  6. Contribution to many government funds (Inland Revenue, Social Security etc)
  7. Price reductions by other companies in order to compete

 

The world-wide importance of the Cyprus pharmaceutical industry

Many other countries have benefitted from the operations of the Cyprus pharmaceutical industry including:

  1. Supply to both the public and private sectors of high quality, safe and efficacious pharmaceuticals at affordable prices
  2. Employment of hundreds of people including scientists (mainly pharmacists and doctors as medical representatives)
  3. Price reductions by other companies in order to compete