Serbian drugmaker Galenika to invest 28 million euros in construction of Russian plant

Galenika, one of Serbia’s largest pharmaceutical companies, is considering building a drug manufacturing plant in the Russian Kaluga region. The company has already signed an investment agreement with the regional administration, which is expected to be finally approved on March 2 in Belgrade.

The total cost of the project, which is expected to be implemented in the cooperation with Russian pharm distributor OAO Farmimeks as well as the local PSP-Farman engineering company, is estimated at 28 million euros ($37.9 million). All the construction works are expected to be completed during the next 18 months.

Zharko Ilic, Galenika’s deputy director, said the production capacity of the plant is expected to reach 700 million tablets, 200 million capsules and 100 million units of emulsion solution per year. One third of production will account for already produced drugs, while two-thirds for new products. Drugs produced at the plant are expected to be distributed by Farmimeks, whose network covers 88 regions.