Pharmaceutical companies are actively investing in St. Petersburg SEZ

| By | Biocad, Investments, Pharmasynthez, St. Petersburg SEZ, Vertex

Since the beginning of 2018, the residents of St. Petersburg Special Economic Zone (SEZ) have invested 1.787 billion rubles in their projects. Over the same period of last year, the residents invested 1.537 billion rubles.

In Q1, top investors included such companies, as Biocad CJSC, Novartis Neva LLC, IC Burevestnik JSC, Vertex JSC, and Pharmasyntez-Nord JSC. Together, these companies account for more than 1.5 billion rubles of investments. At the end of 2017, Novartis-Neva launched commercial manufacturing operations at its SEZ-based plant, Vertex JSC began to build the second stage of its innovation and production facility, and IC Burevestnik JSC is in the final stage of construction of its facility.

The revenues generated by the SEZ residents in Q1 2018 reached 3632 billion rubles compared to 2321 billion rubles received over the same period of last year. This indicates a 36% growth of revenues.

Over the entire existence of St. Petersburg SEZ, its residents created 2852 jobs. 152 new jobs were created so far this year. During this period, the total investments of companies reached 33.128 billion rubles, and the revenues are up to 44.235 billion rubles.

Maxim Meyksin, Chairman of Committee on Industrial Policy and Innovation of St. Petersburg, said, “The success of St. Petersburg SEZ residents attracts new investors to our sites. Newly arriving companies present better business plans that are ultimately aimed at the manufacturing of increasingly advanced and demanded products.”