Nycomed will invest in a state-of-the-art pharmaceutical production plant near the city of Yaroslavl in Russia. The company plans to invest between E65m to E75m.
The company said that the new facility will produce medicines for the local Russia-CIS market. The plant, located in the Yaroslavl region meets both the local and current Good Manufacturing Practice (cGMP) requirements. Total investments of the company over the next five years will be between E65m to E75m. The construction is expected to start in 2010 and the plant will start production in 2014 with approximately 150 employees.
The facility is designed to manufacture liquid sterile products (ampoules and vials) as well as solid medicines (tablets). In addition, a packaging line for both solids and liquids will be integrated. Nycomed plans to produce products for the local market, like Cardiomagnyl, Actovegin, Calcium and Warfarin.
Hakan Bjorklund, chief executive officer of Nycomed, said: “With the investment in our production facility, we further strengthen our commitment to the Russia-CIS region. Russia-CIS is an important cornerstone in our growth strategy, and optimally serving this market is vital for Nycomed. The investment underlines our belief in the long-term prospects of the pharmaceutical market in Russia-CIS and we welcome the efforts of the Russian authorities to develop this market.”
Sergey Vakhrukov, governor of the Yaroslavl Region, said: “We are very proud that Yaroslavl region has been chosen by Nycomed to build a new pharmaceutical production. Personally, I am delighted that Nycomed is investing in our region and we are looking forward to continuing the great cooperation we have established during the last couple of months. We are confident that Nycomed will play a key role in supporting us to set-up a pharmaceutical cluster in Yaroslavl. The Yaroslavl administration will ensure all necessary support for Nycomed’s business in our region.”