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Pharmaceutical production worth 10 billion rubles to be created in the Murmansk region

• By Newsdesk
• Murmansk, Russia
• Jun 16, 2023

News

The Indian investor intends to establish a pharmaceutical manufacturing plant (MP) in the Murmansk region, with an estimated investment of 10 billion rubles. The agreement was signed on June 15 as part of SPIEF-2023 by Kumar Divesh, the Governor of the region Andrey Chibis, and Nikolai Zapryagaev, the General Director of the Corporation for the Development of the Far East and the Arctic.

The public-private partnership (PPP) calls for "ensuring the substitution of drug imports for residents of the Murmansk region and the North-Western Federal District," according to the Murmansk region's Ministry of Information Policy's press service. The company intends to supply state hospitals and pharmacies with antibiotics, vaccines, vitamins, minerals, amino acids, hormonal, and cancer drugs.

The report also clarifies that the project is scheduled to be completed in three years, during which time over 1.3 billion units of medicines and 1,800 tonnes of active pharmaceutical ingredients will be delivered, with the possibility of increasing to 6,000 tonnes per year.

"With an investment of more than 10 billion rubles, the Murmansk region could become the first Arctic territory to build a pharmaceutical plant." Andrey Chibis stated, "An Indian company within the PPP is interested in developing this high-tech production."

The co-owners of Saffarm LLC, according to the Unified State Register of Legal Entities, are the Indian pharmaceutical company Safecon Lifesciences and the Biopharmaceutical Centre LLC, which is owned by the Indian Avicare Bio Science.