Innovation is at the heart of Huvepharma

Anguel Jeliazkov has been the CEO of Biovet AD since 2000. Since 2015 he has been serving as the Vice President of Huvepharma responsible for production. He graduated from the University of National and World Economy in Sofia, majoring in Industrial Management.

Mr. Jeliazkov, Huvepharma is celebrating 25 years. What developments has the company been throuh during this quarter of a century?

In 25 years, Huvepharma has made an impressive journey starting from a purely manufacturing company to becoming a global leader. The beginning was set in 2000, when Kiril and Georgi Domuschiev purchased the main share in Biovet Peshtera - a manufacturing enterprise with decades of tradition - and laid the foundation of Huvepharma. Today, a quarter of a century later, Huvepharma is among the top 10 global veterinary pharmaceutical manufacturers and operates as a fast-growing international pharmaceutical company with a focus on animal and human health. The company has built a broad international presence - we have production in 11 plants located in five countries, and a sales network covering over 100 countries on six continents. This development was possible thanks to bold and strategic investments by the owners, innovations and tireless teamwork, which turned a Bulgarian company into one with global significance and scale.

What role do the brand, traditions and experience play? What were the key moments for expanding opportunities on the horizon?

Traditions and experience were our solid foundation on which we began building. Biovet has over 70 years of history, knowledge and experience in the biotechnology industry. We stepped on this foundation - generations of specialists and established production practices - and combined it with an innovative approach. The name Huvepharma itself comes from the words “HUman” and “VEterinary” - it symbolizes the unification of human and veterinary pharmaceuticals in our vision. Key moments in our growth were definitely our strategic acquisitions and investments. We started with the modernization of our Bulgarian bases - we acquired the plant in Peshtera in 2000 and another one in Botevgrad in 2002. In 2005, we added a plant in Razgrad, with which we boosted production of active substances for human health and expanded our research and development activities.

Expanding abroad also happened at key moments. Back in 2005, we opened sales offices in the USA and Europe, and in 2007 we acquired a production unit in St. Louis, USA. A major breakthrough was our further entry into North America - in 2015-2016, we acquired two production bases in the USA, which gave us a direct presence in this market. We also added plants in Italy and France, as well as a number of subsidiaries in Europe, Asia, and Latin America. Through this combination of organic growth and acquisitions, we have gone far beyond the borders of Bulgaria. We now operate with production facilities in the USA and Europe, which makes us more flexible and we can be closer to our customers.

You have been at the helm of Biovet for 25 years and Vice President of Huvepharma for 10 years. What’s the source of the strong bond between you and this dynamic business?

For me personally, this is more than a professional path - it is a cause that I have been living with for a quarter of a century. When I started at Biovet in 2000, the company had just been privatized. I had the chance from the very beginning to be part of the transformation - to build a modern and competitive business from a traditional production-oriented enterprise. This “bond” between all my colleagues and me was formed gradually, through the successes and challenges we experienced together. Over the years, we have grown together and achieved a lot.

From the very beginning, I have shared the owners' vision of global scale and innovation. As CEO of Biovet, I have gone through all stages - from the modernization of old production facilities and the implementation of GMP standards at the beginning, to the construction of brand new plants and entry into new markets. When in 2015 I was invited to take on the role of Vice President, Production at Huvepharma, I accepted it with the feeling that I could contribute to the integration of our production facilities around the world into an effective global structure.

Huvepharma and Biovet are growing and conquering new markets. One of the latest major investments took place in 2024 with the vaccine production plant in Razgrad. How did it come about and what's next?

The investment in the new veterinary vaccine plant in Razgrad is strategic. The project started “from scratch” in 2019 and despite all the difficulties, including the pandemic, we managed to fully implement it in less than 4 years. At the end of 2023, it became operational, and we held the official opening in June 2024.

This plant is high-tech and modern - it is equipped with the latest generation machines, it is designed to be multifunctional, with several independent lines for the production of different types of vaccines. The investment is worth 140 million leva. Now we are about to fully unleash its potential. Currently, we have a team of about 70 people. We expect to complete the main product registrations and production in the next 2 years.

The plant will reach regular serial production. At full capacity, over 300 highly qualified specialists will work there. In the next stage, we will also develop a portfolio of new vaccine products - we have research and development units with highly qualified specialists in the USA and Bulgaria, who are already developing new strains and technologies.

What are some of the most significant innovations of Huvepharma - in products and in the production itself?

Innovation is at the core of our company culture - we believe that only through constant improvement can we be one of the leading companies in our field. Our portfolio today includes over 300 products - from veterinary medicines and vaccines, active substances and nutritional supplements for feed, to enzymes and probiotics. Many of these products are the result of our own research and development activities.

Perhaps our greatest competitive advantage is innovation in the production process itself, such as our know-how in fermentation technologies and biotransformation. We’re proud that today we have over 10,000 cubic meters of fermentation capacity, which represents about half of all operating fermentation capacities in Europe. This allows us to have economies of scale that few competitors have.

At the end of 2021, we launched the production of omega-3 fatty acids through fermentation. This is a cutting-edge project - we produce algae oil, which can replace fish oil. It is used in food and supplements for humans and pets. This technology eliminates the risks of heavy metals and microplastics inherent in fish oils, and is much more sustainable.

The theme of ESG and green practices is important to Huvepharma. What aspects of these policies would you like to emphasize?

For us, ESG (environmental, social and corporate governance) is a long-term commitment embedded in our strategy. Wastewater treatment facilities and exhaust air filtration installations are integrated in all our plants. We have also built our own incinerators that utilize waste biomass from production - instead of waste, it is converted into energy that we use again in our production processes.

Energy efficiency and the transition to green energy are also important features for us. Energy is essential for our uninterrupted production regime, which is why we have been working for years to ensure independence and a green alternative. We have a highly efficient cogeneration plant that supplies us with electricity and steam. In addition, we already have solar installations with a total capacity of 90 MW on the territory of the Biovet plants. This self-generated photovoltaic energy covers 30% of our needs. By 2030, more green power plants and electricity storage facilities will gradually come into operation, with which Huvepharma aims to fully satisfy its own energy needs from renewable sources and achieve carbon neutrality.

I believe that in a few years we will be among the first large pharmaceutical companies that are practically energy independent and carbon neutral.

No less important is our social responsibility towards people and communities. As a large employer, we provide excellent working conditions, and we invest in the safety and development of our employees. In Peshtera and Razgrad, we work closely with local technical high schools and universities, we cooperate with educational programs and offer internships. We also participate in charitable and social initiatives - from supporting local hospitals with equipment donations to environmental protection projects in the regions (afforestation campaigns, river cleaning, etc.).

People are an important asset for any business. How do you solve the problem of attracting the right personnel?

I completely agree - people are our most valuable asset. In our high-tech industry, success depends on the expertise, motivation, and ideas of all employees. Attracting and retaining qualified personnel is a challenge. That is why we invest in people at every level - from education and training, through good working conditions, to career development and corporate culture.

We work proactively with educational institutions to prepare future personnel. We have built partnerships with vocational high schools and universities. We support the creation of a dual form of training. The first students who have completed this program are already working in our factories.

How will Huvepharma take on the next 25 years of its history?

With the same drive and vision that we have had over the first 25 years, we will also welcome the next 25. We have a clear long-term strategy - to consolidate our position as a global leader by remaining innovative, efficient, flexible and responsible.

In numbers

• 25 years of history;
• Production - 11 plants in 5 countries;
• Sales network - 100 countries on 6 continents;
• Portfolio with over 300 products.