Sanofi and AstraZeneca signed SPICs with the Russian Ministry

| By | AstraZeneca, Ministry of Industry and Trade, Sanofi, SPIC

On October 16, Sanofi and AstraZeneca, two major global pharmaceutical manufacturers, signed special investment contracts (SPICs) with the Russian Ministry of Industry and Trade and Russian regions.

One SPIC provides for upgrading Sanofi-Aventis Vostok production facility in Orel region, deeper localization in manufacturing the latest generation of innovative insulin up to the stage of the finished dosage form in 2019, as well as for further development of export potential to supply abroad the modern insulins manufactured in Orel region. For manufacturers localizing their production in the Russian Federation, a SPIC guarantees stability of state requirements, including tax benefits, and the local status for the drugs manufactured under the SPIC before starting the production of finished dosage forms.

SPIC signed with AstraZeneca provides for the investment by the manufacturer of additional 1 billion rubles in upgrading its Russian enterprise and ensuring the technology transfer to manufacture the medicinal products for the treatment of socially important diseases. SPIC includes ten drugs, with six of them planned for production up to the stage of finished dosage form by 2020.

The term of the SPIC is equal to the period required for the project to reach its operating profit plus 5 years, but no more than 10 years.