Binnopharm and Biocom to receive loans from Russian Industrial Development Fund

| By | Binnopharm, Biocom, Import Substitution
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Binnopharm will manufacture AERUS, an antiretroviral OTC drug in aerosol form, in Zelenograd (Moscow). The drug will allow effective treatment of viral diseases, including flu. Currently, the drug is manufactured abroad and imported to Russia. The cost of the project is 204.1 million rubles, out of which 101 million rubles may be provided by the Industrial Development Fund (IDF) as a concessional loan.

Alexey Chupin, the General Director of Binnopharm JSC, said, “The implementation of the project to manufacture Aerus will achieve our main objective of creating the most affordable anti-flu and anti-ARVI medicinal products available on the Russian market. The involvement of IDF gave us the opportunity to implement a socially important project and allow consumers to purchase this drug at an extremely low price.”

Biocom, a Stavropol-based company, plans to more than double the capacity of its plant for manufacturing the medicinal products (from 10-11 million to 26 million packages a year). The production of 5 new drugs is scheduled for 2017-2018. They include an antidepressant, an antimalarial medication, a drug to treat the allergy, and other medicinal products. The cost of the project is 490 million rubles, of which 245 million rubles may be provided by IDF as a concessional loan.

SOURCE: gmpnews.ru
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