A Palestinian-owned Malta-based pharmaceutical company has teamed up with a Greek company for the development of two generic medicines used to treat cancer patients.

The signing of the agreement between Pharmacare Premium and Genepharm was presided over by Prime Minister Joseph Muscat. The PM is currently in Greece, where he also had talks with PM Alexis Tsipras earlier in the day.

The two companies aim to export the medicines globally.

PM Muscat said the agreement was a clear example of fruitful Mediterranean cooperation.

Pharmacare Premium chairman Bassim Khoury thanked the Maltese PM for the assistance it provides to businesses and for being pro-business, a DOI statement said.