Shire and Generium set up JV in Russia

Generium, one of Russia’s leading drugmakers and owned by a local billionaire Victor Kharitonin, has officially announced the establishment of a joint venture with Ireland-headquartered Shire (LSE: SHP), reports The Pharma Letter’s local correspondent.

It is reported that the newly-established joint venture will be known as SG Biotech and will focus on the deliveries of drugs for the treatment of hemophilia to the Russian market.

Shire has not ruled out the possibility of the transfer of the production of its drugs to the facilities of Generium, which is currently operated at a plant in the Vladimir region.