AstraZeneca to invest $1.2 billion in Russia by 2017; Pharmstandard deal with AVVA

Anglo-Swedish drug major AstraZeneca (LSE: AZN) plans to invest up to $1.2 billion in its development in Russia during the 2012-2017 period, which will be three to four times greater than in the previous five-year period, according to Tony Zook, AstraZeneca’s head of global commercial operations.

It is planned that the majority of funds will be invested in the development of new products, the expansion of local production, as well as acceleration of research activities. According to Mr Zook, innovative activities continue to be at the heart of the company’s business worldwide. AstraZeneca currently operates nine innovation centers throughout the world, which employ over 11,000 people, he noted.

AstraZeneca says it plans that, during the next several years, its R&D activities will concentrate on several main areas, among which are personalized medicine, predictive medicine, as well as clinical trials. This year the company launched two innovative products on the Russian market, as well as opened center of predictive medicine St Petersburg.