Geropharm to invest $45 million in Russian insulin production

Geropharm, one of Russia’s leading pharmaceutical and biotech companies, is establishing a plant for the production of insulin in the city of Obolensk, in the Moscow region.

Total investment in the project is estimated at 1.5 billion roubles ($45 million), while the payback period of the project will be four years. The new plant will have the capacity to produce 25 million bottles and 5 million cartridges of genetically engineered insulins and analogues, as well as drugs for the treatment of socially significant diseases.

According to Petr Rodionov, chief executive of Geropharm, the company plans to take up to 30% of the Russian market of genetically engineered insulin during the next two or three years and to export its supplies abroad.