Pharmsynthez to invest almost $500milion to expand in domestic market

Pharmsynthez (MISK: LINE), one of Russia's leading drugmakers, is accelerating its expansion in the domestic market by investing more than 20 billion roubles ($223 million) in the building of one of Russia’s largest complexes for the production of active ingredients and finished dosage forms within the territory of the Vorotynsk Industrial Park in the Kaluga region.

The plant will produce both general therapeutic and oncological active ingredients (about 60 types of each product), which will almost completely cover the needs of Russian healthcare in these products and will allow to start their exports, reports The Pharma Letter’s local correspondent.

At the moment, Pharmsynthez produces active ingredients at the facilities of its BratskKhimSintez plant, with the annual output of about 120 tons. It is planned that the enterprise in Kaluga will produce up to 1,000 tons of active ingredients per year. The project will be implemented by 2026 and will create more than 2,000 new jobs.