German Merck to establish production of drugs in Russia

Germany’s Merck KGaA (MRK: DE) has signed an agreement with Nanolek, one of Russia’s largest drugmakers, on the establishment of production of its drugs at the facilities of Nanolek in the Kirov region of Russia, according to an official spokesman of the Kirov government.

The value of investments in the new production facility at the initial stage is estimated at 10 million euros ($11.4 million) with a possibility of a significant increase during the next several years, reports The Pharma Letter’s local correspondent.

Under the terms of the agreement, the plant will specialize on the production of Merck drugs such as Glucophage (metformin) and Glucophage Long, both designed for the treatment of diabetes, as well as Konkor (bisoprolol) and Koncor-kor for the treatment of hypertension and heart failure.