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news.Naprod Life Sciences, a producer of generic medicines and formulations for oncology, is set to partner with Russia's Pharmasyntez for co-producing cancer medicines in the Russian Federation.
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Naprod Life Sciences and Pharmasyntez will sign a memorandum of understanding for setting up a manufacturing unit in Saint Petersburg, Russia, with technology transfer by Naprod.
Apart from technology, Naprod would also supply active pharmaceutical ingredients to the oncology plant.
The total cost of setting up the oncology plant is estimated to be $55m, which will be borne by Pharmasyntez.
The work on the plant will begin in August 2011 and will be completed by the end of 2012.