Abbott considers further expansion of Russian business

US drugmaker Abbott (NYSE: ABT) is considering further expanding of its Russian business during the next several years, according to recent statements of Michael Vormut, Abbott’s executive vice-president.

It is planned that a particular attention will be given for the expansion of production capacities of the company’s Veropharm Russian subsidiary, which operates manufacturing facilities in the Vladimir and Belgorod regions of the country, reports The Pharma Letter’s local correpondent.

In the middle term, the company plans to start exports of drugs which are produced at its Russian plants to the markets of Commonwealth of Independent States (CIS) that will allow it to significantly expand its presence in the entire region of the former Soviet space.