Investment in the Development of the Pharmacy Plant near Moscow to be Doubled

| By | Dubna, PSK Pharma
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PSK Pharma, a resident of Dubna SEZ, will double its investment in the project and intends to start construction of the second phase of the pharmaceutical plant to produce medicines.

Participants of the Expert Council meeting held on December 17 by the Moscow Region Government Deputy Prime Minister, Vadim Khromov, unanimously approved the updated business plan of PSK Pharma, the current resident of Dubna SEZ. The key changes regarding many project clauses have been adjusted upwards.

SEZ residents always have the opportunity to adapt their projects to today’s realities, Vadim Khromov said. – The fact that an Indian investor of the Russian pharmaceutical plant is ready to double the funds that were initially announced and intends to expand the development and production of pharmaceuticals, speaks mainly to his confidence in the successful implementation of the project in the Moscow region.

Today, when we are aimed at streamlining the pharmaceutical industry and increasing the number of domestic medicines on the market, the creation of these full cycle enterprises helps reduce dependence on the foreign suppliers, Vadim Khromov said.

Dubna SEZ resident has already put into operation the 1st phase: the Research and Production Complex with an area of 13,875 square meters. The adjustment entails the start of 2nd construction phase design yet in January 2020: premises for engineering and production shops, as well as warehouse space for a new tableting shop with an area of 3,000 square meters. The construction is to be completed in Q3 2021.

Also, the application submitted by PSK Pharma regarding amendments to the previously made agreement on conducting technical and innovative activities in Dubna SEZ provides for a twofold increase in investment in the initial project: from RUB987 million to RUB1.8 billion.

Moscow Region Development Corporation has assisted PSK Pharma in preparing the documentation required for participation in state investment support programmes, as well as the documentation for benefits.

“Over the last two years we have implemented 6 major investment projects in the pharmaceutical industry. One of them is the PSK Pharma project in our region. The investment climate in the Moscow region is favourable for the creation of medical and pharmaceutical enterprises. As today the number of Russian pharmaceutical manufacturers is limited, we can assume that PSK Pharma product will be in demand on the domestic market,” Moscow Region Development Corporation Deputy General Director, Alexander Fedorov, said.

The company is currently conducting research as part of the pharmaceuticals registration process,” PSK Pharma LLC Acting General Director, Yevgeny Shapiro, said. – We have already received registration certificates for some of our medicines for the treatment of asthma and chronic obstructive pulmonary diseases. Also, in our new business plan, we announced a new line of high-tech genetically engineered medicines for the treatment of cancer and autoimmune diseases.”

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