Russia's leading insulin producer Geropharm eyes expansion in Latin America

Geropharm, one of Russia’s largest drugmakers and a leading producer of insulin, is eyeing accelerating its foreign expansion as well as increasing its output by almost five-fold, according to recent statements by Petr Rodionov, the firm’s general director.

Mr Rodionov said in an interview with the Russian Vedomosti business paper, while for the company it is currently more profitable to export its drugs (particular insulin), since its price is higher there, on the other hand, the products supplied to the domestic market are more technologically advanced.

Geropharm believes that it is ready to fully meet the demand for insulin for patients with diabetes mellitus in Russia, as well as to invest in expansion of production.