Russia's Pharmasyntez eyes US and EU expansion

JSC Pharmasyntez, one of Russia’s largest drugmakers, has announced plans to start production of original drugs, that will be specially designed for the supplies to the US and the European Union markets, according to recent statements of Viktram Singh Puniya, chief executive of the company, reports The Pharma Letter’s local correspondent.

Mr Singh Puniya comments: "We are currently completing the development of an innovative drug for the treatment of post-surgical adhesions. Currently the drug is a subject of clinical trials in Russia and in Europe. If we can prove its effectiveness, which may take up to two years, we will able to expand in the global market. Currently global medicine can’t offer drugs for the treatment of peritoneal adhesions, however the launch of the new drug may change the existing situation.”

Pharmasyntez plans to apply for a certification from the US Food and Drug Administration already this year. According to the company’s calculations, the global market for the drug is estimated at about 2 billion euros ($2.3 billion) a year. Production of the drug will take place at the facilities of Pharmasyntez in the Russian city of Tyumen.