Russia's Geropharm aims to become leading supplier of insulin in Latin America

Geropharm, one of Russia’s top drugmakers, plans to become one of the leading producers and suppliers of insulin in the Latin American region in coming years. This will be achieved through the localization of production at the facilities of Venezuelan biotechnology company Espromed Bio, reports The Pharma Letter’s local correspondent.

An agreement was signed between the companies during the St Petersburg International Economic Forum, Russia’s most important annual business event.

Under the terms of the accord, the Russian company will establish production of insulins from active ingredients that will be supplied from Russia.