Russia's Biocad to invest $120 million in expansion of domestic operations

Biocad, one of Russia’s largest biotech companies, has officially announced its plans to invest up to $120 million in the expansion of production during the next several years.

As part of these plans, The Pharma Letter's local correspondent reports, the company plans to establish new production of chemical substances, a new factory for the production of finished dosage forms and to double funds in R&D activities.

According to Dmitry Morozov, founder and chief executive of Biocad, in the case of pharmaceutical substances, it is planned that the new plant will be built in the already existing St Petersburg special economic zone, an economic zone, which is located close to the city of St Petersburg.