A strengths, weaknesses, opportunities, and threats (SWOT) analysis revealed the following observations.
Strengths
Malta has a mature pharmaceutical industry with an adequate manufacturing base and capacity to produce quality drugs.
It has a pool of productive, proficient graduates, who are flexible and hard working.
Facilities are designed in line with EU cGMP requirements and may be inspected and accredited by the local supervising entity, the Malta Medicines Authority.
Most of the citizens are English-literate or even multilingual.
Weaknesses
Malta has a very small internal market.
There appears to be a lack of innovation within the Maltese pharmaceutical industry.
Opportunities
The Government of Malta funded the BioMalta Life Sciences Park, which offers the potential to blend knowledge of the pharmaceutical industry with the biopharmaceutical and biotechnology industry.
The regulatory framework is good and the country embraces the mutual recognition agreement.
Investment tax credits and financial assistance in the form of soft loans, guarantees, and interest subsidies from Malta Enterprise are available.
There is a 25% reduction in electricity tariffs for the industry beginning in 2015; the current average kW unit price is €0.15.
The country has an encouraging legal, political, and social climate and attractive low corporation tax, which embraces the tax imputation system.
The country is a strategic hub and gateway to continental Europe and the Euro-Mediterranean, Middle East, and North Africa (MENA) region, with industrial parks located close to Malta’s main shipment and aviation logistic centers.
Sound financial services are available, which enabled the swift rebound from the international economic turmoil.
Safe and a good quality lifestyle together with a cultural heritage is second to none.
Threats
Competition from developing countries is increasing.
R&D infrastructure and investment are under-developed.
Transport infrastructure and storage facilities for temperature-sensitive drugs are not readily available.