The construction of a pharmaceutical plant to produce drugs for the treatment of oncological diseases will begin this year and the investment in the project at the first stage of its implementation will reach $10 million, said Shanmugasundram Natarajan, representative of KGP Laboratories (UK) Limited which is a co-investor in the project.
“This year, the construction of a new plant for oncological drugs will begin in the Pskov region. In this way we are achieving the goal set by the Russian government for import substitution in the area of health care. The initial volume of investments at the first stage of construction is $10 million,” he said in an interview with a news agency.
According to Mr. Natarajan, the cost of drugs produced at the Pskov-based pharmaceutical plant will be significantly lower than that of its imported analogs.
“We will have the most advanced production facility and provide consumers with high-quality medicines at an affordable price. Prices will be competitive and approximately 20-30% lower than those of foreign analogs,” said the representative of KGP Laboratories.
According to earlier reports, KGP Laboratories and Pskov Pharma LLC plan to establish a high-tech production facility in the Moglino Special Economic Zone (SEZ) for a wide range of potent drugs to treat oncological and other diseases.