BIOCAD, a biopharmaceutical company, received three land plots in the pharmaceutical cluster of Pushkinsky district in St. Petersburg. The investor plans to build a plant and preclinical studies center.
The company is also implementing another three major investment projects. According to Dmitry Morozov, the CEO of BIOCAD, the investment activities of the company can be explained by the coming “difficult times” for the pharmaceutical market.
The land plots allocated by the government in the city of Pushkin will be used by BIOCAD to build a preclinical studies center, including the experimental biological clinic and a production facility for chemical substances and finished dosage forms. According to the documents published by St. Petersburg government, the city leased to the investor 97 thousand sq. m. of land for three years. The total annual lease payments will be 2.7 million rubles.
The plant will manufacture 18 medicinal products. The construction is scheduled to finish in 2021. The investments in the project will be 3 billion rubles. Earlier, the company reported that the expected payback period is more than five years.