Pharmstandard to start production of Roche's Tamiflu in Russia

Pharmstandard (PHST: MM), Russia's largest pharmaceutical company, has reached an agreement with the Swiss drug major Roche (SIX: ROG) for the production of the firm’s flu drug Tamiflu (oseltamivi) in Russia, the Russian company has recently said. Production is expected to start by the end of the current year.

Tamiflu is one of two drugs, recommended by the World Health Organization for the treatment of swine flu. According to the Russian Vedomosti business paper, in 2010 its global sales amounted to $1 billion, while in 2009 - in the midst of an epidemic – revenues from the drug were $3.68 billion).

May also make GSK’s Relenza

Meanwhile, according to some Russian media reports, in addition to Tamiflu, Pharmstandard also plans to start production of GlaxoSmithKline’s (LSE: GSK) flu drug Relenza (zanamivir), but no final agreement between the sides has been signed yet. Relenza is also backed by the WHO.