Russia's St Petersburg to attract global drugmakers to establish production

The authorities of St Petersburg, one of the main centers of pharmaceutical production in Russia, plan to create additional conditions to attract foreign drugmakers to the region, according to press-service of the St Petersburg regional government and local pharma analysts.

For this purpose, a new mechanism for attracting investments in the pharmaceutical sector of the city was designed and involves the use of so-called offset contracts. That scheme involves signing long-term contracts on the supplies of drugs for the needs of the city in exchange of localization of production, reports The Pharma Letter’s local correspondent.

Minimum 1 billion roubles investment to qualify