The pharmaceutical company Besins Healthcare SA will build an integrated factory in Yaroslavl (250 miles north of Moscow) for producing Utrogestan, a drug to prevent premature births and miscarriages. The company’s representative office in Russia signed an agreement with the Yaroslavl Region government at the end of November. The news was announced by deputy chairman of the regional government Maxim Avdeyev at an itinerant session of the St. Petersburg International Economic Forum “Russian regions: New points of growth,” held in early December.
500 million rubles ($8 million) will be invested in the project.
These are the investor’s own funds. The new production will make it possible to replace a considerable portion of imported medicines,
According to the signed agreement, the investor will begin the design phase in January 2017, with construction expected to be completed by the end of 2017, Avdeyev said. Provided all product trials are successful, manufacturing will start in late 2017 or early 2018, he added.
Besins Healthcare SA specializes in the production of original pharmaceuticals and food supplements for men’s and women’s health. The company has four plants in France, Belgium and Monaco.
Several pharmaceutical plants are already located in Yaroslavl Region, including the Israeli generics manufacturer Teva; a major Japanese manufacturer, Takeda; as well as Russian companies R-Pharm, Pharmoslavl, Vitapharma, and NTpharma. Avdeyev pointed out that the region offers many opportunities for investors, such convenient railroad and motorway links with Moscow, a river port and an airport with good potential, as well as a successful system for training personnel.
The itinerant session “Russian regions: New points of growth” was organized by the Roscongress Foundation together with the Agency for Strategic Initiatives and the Russian Export Center.