Russia's new drugmaker NovaMedica expects production site decision early 2013
The identification of location of the production site of a new pharmaceutical company, NovaMedica, a joint enterprise between the Russian high-technology investment fund RusNano and the American venture health care fund Domain Associates (The Pharma Letter March 7), will be chosen at the end of the first quarter of 2013.
NovaMedica was established in the frameworks of the cooperation agreement, which was signed by RusNano and Domain Associates in March 2012. The partnership involves joint investment in advanced medical technologies and innovative drugs, and bringing these to market in Russia and the Community of Independent States (CIS) for their development, manufacture, and commercialization, including the creation of a GMP production facility.
In their earlier announcement, the partners each pledged to invest $380 million and to build a $190 million production facility in Russia planned to launch it in 2015. The plant will produce over 200 million pills or 20 million packages per year.
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