The $35 million plant, which has one of the highest production capacities in West Africa.
The Atlantic life sciences company’s plant is expected to manufacture infusions and anesthetic medicines, serum, vaccines, ear, eye and nasal drops for the Ghanaian and West African markets.
President Akufo-Addo said the factory underscores the kind of support given by government to the private sector to take advantage of economic opportunities in the country.
Mr Akufo-Addo said “I am glad to join all of you here to commission the new factory of Atlantic Life Sciences Limited, the company operating under government’s One District One Factory programme.
“The establishment of tis factory is a concrete manifestation that the new paradigm of economic developments with this administration is vigorously pursuing or promoting value addition and industrial activities, within a conducive and business-friendly environment can make headway.
“IDIF seeks to address the challenge of poverty and widespread inequality among rural and peri urban communities through the establishment of an institutional framework that will attract private sector investment in rural economic activity, create jobs and raise income levels.”
Trade Minister Alan Kyeremanten observed that a vibrant local pharmaceutical industry will be the surest way to wean the country from its over dependence on the importation of pharmaceutical products.
Out of the total of 35 million United States dollars spent to establish the manufacturing facility some 10 million United States dollars of the amount was provided for by government through the Ghana EXIM bank towards the purchase of plants, equipment and machinery.