Nycomed invests 75 million euros in new Russian pharmaceutical production plant

Privately-held Swiss drugmaker Nycomed says it will invest in a state-of-the-art pharmaceutical production plant near the city of Yaroslavl in Russia. The company plans to invest between 65 million euros to 75 million euros ($96 million-$110 million) over the next five years.

The new facility will produce medicines for the local Russia-Commonwealth of International States market, which contributes 10% to Nycomed's turnover and plays an important role in the company's growth strategy. The plant, located in the Yaroslavl region, approximately 280 kilometres from Moscow, meets both the local and current Good Manufacturing Practice (cGMP) requirements. The latest safety and environmental standards will be applied. Construction starts in 2010 and the plant will start production in 2014 with approximately 150 employees.

The investment underlines our belief in the long-term prospects of the pharmaceutical market in Russia-CIS and we welcome the efforts of the Russian authorities to develop this market," Nycomed chief executive Hakan Bjorklund said.

The facility is designed to manufacture liquid sterile products (ampoules and vials) as well as solid medicines (tablets). Liquid production includes solution preparation, washing of ampoules, sterilization, filling and inspection. Solid production will encompass all stages, from mixing and granulation through compression and coating. In addition, a packaging line for both solids and liquids will be integrated. Nycomed plans to produce products that are important for the local market, such as Cardiomagnyl (acetylsalicylic acid/magnesium hydroxide), the bovine blood derivative Actovegin and the anticoagulant warfarin.