Pharmsynthez to invest $55 million in large-scale production of heart disease drugs in Russia

Pharmsynthez, one of Russia’s leading drugmakers, will invest about 4 billion roubles ($55 million) to establish large-scale production of heart disease drugs in the Tyumen region of Russia, according to recent statements by the company and some local media reports.

An agreement between the company and the Tyumen governor Alexander Moor was signed during the St Petersburg International Economic Forum and involves the launch of production of up to 30 various drugs for the treatment of heart diseases.

According to Mr Moor, the capacity of the new enterprise will be sufficient to cover 20% about of Russia's needs for such drugs. The new project will create more than 200 new jobs, while its other details are not disclosed.