Bayer to launch production of contrast mediums in Russia

German pharma major Bayer (BAYN: DE) has officially announced signing of an agreement with Polysan, one of Russia’s leading drugmakers, on the production of its products at the facilities of Polysan in St Petersburg.

Under the terms of the agreement, Bayer will initially focus on the production of its Gadovist, Magnevist and Ultravist contrast media in Russia, which are used in computer and magnetic resonance tomography diagnosis, reports The Pharma Letter’s local correspondent.

According to Niels Hessman, head of Bayer CIS, the company has big plans for the localization of its production in Russia, and in particular in the segment ofcontrast mediums. Mr Hessman noted that currently contrast agents are used only in 17% of cases of X-ray and tomographic studies in Russia, compared to 60% in the European Union.

Bayer estimates that, at present, the Russian market for contrast agents is estimated at 2 billion roubles ($35.3 million) in value terms, with the possibility of a significant increase over the next several years.