New investment strategy underlined by Panadol contract
Published: 26 September 2018
Panadol products for Australia, South East Asia, the Middle East, North Africa and New Zealand will now be manufactured in Victoria by Aspen Australia – creating 85 new jobs in Dandenong.
The investment is a significant win for Victoria’s pharmaceuticals industry and comes as the Victorian Government released a new investment attraction strategy – Investing in Victoria.
The strategy identifies key sectors and the actions required to attract the investment Victoria’s economy needs to grow and create jobs, including the creation of a new entity - Venture Victoria - which will help new investors to land on their feet in the crucial early stages of a project.
The Victorian Government worked with Aspen Australia to win the landmark contract to produce Panadol, which will see it undertake a major expansion of its facility in Dandenong.
Through the investment, Aspen Australia will produce more than 1.3 million Panadol tablets a day, or about 485 million tablets per year, as well as 6.7 million bottles and tubes per year.
The investment will further boost pharmaceutical exports, which were up 40 per cent in 2017, and highlights the success Victoria is having in attracting investments that create local jobs.
Find out more about the strategy at the Investing in Victoria website.