Pfizer to transfer Factor VIII license to Russia's Biocad; Pharm-sintez cancer plans
US drug behemoth Pfizer (NYSE: PFE) is finalizing confidions for the transfer of a license for the production of Factor VIII, which is used to treat hemophilia to Biocad, one of Russia’s leading biotechnology companies, said Dmitry Morozov, recently appointed chairman of Biocad.
According to Mr Morozov, final agreement between the companies should be signed within a month. The drug is expected to be produced at Biocad’s plant in the Krasnogorsk district of Moscow.
Mr Morozov added that Biocad will pay for the license and royalties on future sales of the drug in Russia. Further financial details of the deal were not disclosed. The investment required to initiate the production of the drug in Russia is estimated at about $5 million.
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