Biocad secures $240 million contract for production of drugs for Moscow region
Biocad, one of Russia’s leading drugmakers, has been granted a contract for exclusive supplies of a number of anti-cancer drugs for the needs of the Moscow Department of Health for the period of 2021-2027, reports The Pharma Letter’s local correspondent.
The contract is worth 14 billion roubles ($240 million), and involves localization of production by the company on its site in the city of Zelenograd (Moscow region).
According to Biocad chief executive Dmitry Morozov, the value of investments in the project at the initial stage is estimated at 3 billion roubles, part of which will be provided by Russian banks in the form of a loan, while the remainder will be allocated from the own sources of the company.
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