Generium to Build Biopharmaceutical Plant Worth 10 Billion Rubles

| By | Generium, New Facility, Russian Pharma
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JSC Generium, a pharmaceutical company integrated with Generium Group, plans to invest 9 billion – 10 billion rubles in the coming five years in a project to augment the production of biopharmaceutical products and to build a biopharmaceutical plant, one of Europe’s largest, in the Vladimir region.

A production facility with three production lines will be built in the Vladimir region in 2019-20. Investment in the project amounts to some 3.9 billion rubles, the regional administration’s press service reported. This facility will be the first phase in a project to set up one of Europe’s largest biopharmaceutical plants, the press service said citing Chairman of Generium board of directors Alexander Shuster.

”Generium’s overall investment in enlarging the production of biopharmaceuticals in the coming five years is estimated at some 9 billion – 10 billion rubles. The nearest plans include those of developing new medications, to build new production facilities and to upgrade the equipment,”

the press service said.

The new plant is to be brought to design capacity in the fourth quarter of 2023, Generium’s press service informed Interfax. Its launch has been scheduled for 2019-20. It will be brought to design capacity in the fourth quarter of 2023. The bulk of the investment will go to construction. After the launch 200 million – 250 million rubles will be invested in the project annually through 2023, a company spokesman said.

The plan to augment production reflects Generium’s interest in increasing exports. We are interested in exporting products, the spokesman said but did not elaborate. Generium shipped 8.4 billion rubles worth of products in 2018, up 7% versus 2017.

JSC Generium is an infrastructure center in the Vladimir region comprising a research, production and social facilities. The project got started in 2009. The company employs 750 personnel, 20% of whom are researchers. The company is integrated with Generium Group which conducts research, makes drugs and commercializes original biopharmaceutical products for treating hemophilia, tuberculosis, multiple sclerosis, cancer and cardiovascular diseases.

SOURCE: interfax.ru
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