https://sputniknews.in/20230810/indian-investor-behind-major-pharma-project-in-russias-arctic-polar-region-3504674.html
Indian Investor Behind Major Pharma Project in Russia's Arctic Polar Region
Indian Investor Behind Major Pharma Project in Russia's Arctic Polar Region
An Indian investor will sponsor a pharmaceutical complex in the Arctic Polar region to the tune of 9.2 billion rubles, Governor of the Murmansk Region, Andrey Chibis, said.
2023-08-10T11:19+0530
2023-08-10T11:19+0530
2023-08-10T11:19+0530
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This is according to Governor of the Murmansk Region, Andrey Chibis, who shared this exciting news on his Telegram channel.The new pharmaceutical company will produce more than 1.3 billion import-substituting drugs in the Murmansk Region. The agreement with the Indian investor to establish a pharmaceutical company dubbed, SAFFARM, in the aforementioned region was inked during June’s SPIEF-2023. Consequently, the company became a resident of the Russian Federation’s Arctic zone. The region’s Ministry of Information Policy notes that the pharmaceutical complex will produce 1.3 billion import-substituting pharmaceutical products per year. The launch of the SAFFARM large-scale pharmaceutical complex is scheduled for the fourth quarter of 2027. Moreover, expectations are that 280 new jobs will be created.
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Indian Investor Behind Major Pharma Project in Russia's Arctic Polar Region
An Indian investor will sponsor a pharmaceutical complex in the Arctic Polar region to the tune of 9.2 billion rubles.
This is according to Governor of the Murmansk Region, Andrey Chibis, who shared this exciting news on his Telegram channel.
The new pharmaceutical company will produce more than 1.3 billion import-substituting drugs in the Murmansk Region.
The agreement with the Indian investor to establish a pharmaceutical company dubbed, SAFFARM, in the aforementioned region was inked during
June’s SPIEF-2023. Consequently, the company became a
resident of the Russian Federation’s Arctic zone.
The region’s Ministry of Information Policy notes that the pharmaceutical complex will produce 1.3 billion import-substituting pharmaceutical products per year.
The launch of the SAFFARM large-scale pharmaceutical complex is scheduled for the fourth quarter of 2027.
"The new enterprise will be focused on producing general, hormonal and oncological drugs, and these products will replace the import of such drugs to Russia," the Ministry of Information explained.
Moreover, expectations are that 280 new jobs will be created.
“Modern equipment will facilitate the production of medicines as tablets, capsules, injections, ointments, drops and in other forms... We will be able to meet Russia’s domestic demand by supplying medicines to public hospitals and selling [them] through pharmacies, and, if necessary, we will be able to export about 10% of the total production volume to CIS countries," said Kumar Divesh, General Director of SAFFARM LLC.
