Schott announced that it will continue to invest in its pharmaceutical packaging plant in Itupeva, Brazil on the occasion of its 80th manufacturing anniversary in the country.
The company said that it will supply locally-produced high-quality pharma packaging to support the growing domestic pharmaceutical companies.
Schott's facility near São Paulo specializes in producing high-quality ampoules, vials, and cartridges.
The Itupeva plant that manufactures according to GMP (Good Manufacturing Practice) principles has been constantly modernized by the company with Schott investing around $4.99m (BRL15m) in it in the last fiscal year.
Speaking about its commitment to Brazil, Schott's pharmaceutical systems business unit executive vice president Andreas Reisse said: "Brazil in particular is a very interesting market for us. With these investments, we want to make sure that our South American customers are supplied in the best possible way."
Schott boasts of a wide production network of 16 plants and said it was the only packaging manufacturer that had a presence in all the BRIC nations that include Brazil, Russia, India and China.
The company said that it was investing in its operations in Brazil because it presented good market prospects.
A recent report from IMS Health has revealed that Brazil might replace Germany to become the fifth among the major pharma markets in the world in 2018 as it is the only country in the world with a universal and free public health care system.
The country is also experiencing a rise in average income and there is a growing demand of medication from its ever-ageing population.
Director of Schott Pharmaceutical Systems in Brazil Jürgen Buhr said: "The pharmaceutical industry in Brazil can make significant progress based on this growth in health care expenditure. And Schott will be a very supportive partner when it comes to realizing these growth objectives by supplying its customers with the highest quality pharmaceutical packaging."