Pfizer and NovaMedica complete strategic partnership
US pharma giant Pfizer (NYSE: PFE) and Russia’s NovaMedica, a company established in 2012 by Russian high-technology investment fund Rusnano and American healthcare fund Domain Associates, have completed the last stage of negotiations for a long-term strategic partnership designed to transfer the rights and technologies for the production of more than 30 life-saving and essential drugs from the Pfizer product portfolio.
The deal will enable Pfizer and NovaMedica to improve the health of patients in Russia and modernize the Russian pharmaceutical industry.
As announced in July this year, under the terms of the partnership, Pfizer will invest in NovaMedica and collaborate on the construction of a state-of-the-art aseptic manufacturing facility in the province of Kaluga. The facility is intended to be built in accordance with the highest world-class and current Good Manufacturing Practices (cGMP) standards and requirements of the Russian authorities, which would potentially enable NovaMedica to manufacture for export markets.
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