Pharmasyntez will manufacture hormonal therapy medicines at its Tyumen site

| By | Import Substitution, Pharmasynthez

At their working meeting, the governor of the Tyumen region Vladimir Yakushev and Vikram Punia, the CEO of Pharmasyntez, announced strategic plans for the development of the company’s unit in Tyumen. This includes the use of existing manufacturing site to establish a production facility for hormonal therapy medicines in 2017-2019. Currently, the monopoly is held by foreign companies.

“Russia does not have a single similar project. In fact, there is no import substitution in this area,” said the head of Pharmasyntez. “Our project is aimed at strengthening the drug safety of Russian people.”

Tyumen will have the most advanced production facility based on the use of latest technology. The investments are estimated at 3.25 billion rubles. Most of expenditure will go to purchasing the equipment, design, construction and installation works, as well as to clinical trials and registration of medicinal products.

The project involves the construction of a production building with the surface area of 6,000 square meters, a shop for pilot production projects with the surface area of 350 square meters based on the existing infrastructure of the enterprise, construction of an automated warehouse.

The indicated sources of financing include own funds of the company, as well as the subsidies from regional and federal budgets. The payback period will be 5.5 years.

It is expected that the first medicines will be manufactured and released in 2020. New production facility will employ 113 people.