Green Cross and Nanolek enter strategic partnership to commercialize biologics in Russia

South Korean biopharma company Green Cross and Russian drugmaker Nanolek have entered into a strategic partnership for the commercialization of Green Cross’ biologics in the Russian market.

Nanolek will gain marketing authorizations and set up production of Green Cross’ biologics. Production will be organized at Nanolek’s facility, which complies with European Union Good Manufacturing Practice (GMP) standards and launched in December 2014.

The Russian pharma market is one of the most attractive in the emerging European countries, mainly due to size, but also a growing government investment in health care. Russia’s pharma market is expected to grow at twice the pace of the global pharma market, reaching an approximate market value of $43billion to $60 billion by 2020, according to the companies.