Indian investor plans to launch production of import-substituting medicines in Murmansk Region
The investment will amount to more than RUB 10 bn.15 June 2023
Within the framework of the St. Petersburg International Economic Forum 2023, the Far East Development Corporation (FEDC), the Murmansk Region Government and SAFFARM, in the presence of Aleksey Chekunkov, Minister of the Russian Federation for the Development of the Far East and Arctic, signed a cooperation agreement to build a pharmaceutical complex and active pharmaceutical ingredients plant.
Under the agreement, the parties will cooperate in a public-private partnership to ensure the import substitution of medicines for the residents of the Murmansk Region and the Northwestern Federal District.
The establishment of a modern, high-tech pharmaceutical production facility will meet domestic demand for antibiotics, vaccines, vitamins, minerals, amino acids, including hormonal and oncological drugs. Import-substituting products will be supplied to public hospitals and pharmacies. The project will be implemented in stages over three years, with a capacity of over 1.3 bn units of medicines and 1,800 tons of active pharmaceutical ingredients per year, with the possibility of further expansion to 6,000 tons per year. The launch of the facility will make it possible to employ 280 northern residents.