On August 27, the Governor of Saint Petersburg, G. S. Poltavchenko, in the framework of his visit to the investment objects of the city visited GEROPHARM Group of Companies production site within Pushkinskaya industrial zone where the company is implementing a large-scale project of construction of a pharmaceutical factory producing bio technological medicinal products.
At the XX St. Petersburg International Economic Forum the City Administration and GEROPHARM signed a cooperation agreement within the framework of this project implementation. They will arrange a full-cycle production of insulin and insulin analogues as well as pharmaceutical substances and medicinal products based on them that do not have analogues in terms of local content within the Russian Federation.
Launch of this new production will facilitate meeting the demand of the Russian Healthcare Ministry for medicinal products to treat socially important diseases prevailing among the overall incidences in the Russian Federation including diabetes, providing independence of the Russian market of insulins from the import substance and enriching the market with modern highly effective domestic medicinal products that can compete successfully with import analogues in terms of quality and price.
The total area of the production complex is 14,000 m2. Investments – 2.26 billion rubles. According to the plan the first line of production of pharmaceutical substances for original products is expected to be launched in the first quarter of 2017. The first line of production of human gene engineering insulins is expected to be launched n the first quarter of 2018.
After commissioning of the factory the aggregate capacity of the current enterprise of GEROPHARM in Moscow Region and a new enterprise will be enough to meet the need of Russians in insulin to the full extent. Economical efficiency of the localized production will make it possible to reduce value of the finished product by 20–30 % and will facilitate saving budgetary funds when placing a government order for insulin that will give an opportunity to provide up to 9 thousand more patients in St. Petersburg and up to 200 thousand more patients in Russia on an annual basis.
Having implemented the investment project of construction of the pharmaceutical factory GEROPHARM Group of Companies will become one of the first companies in the world which launch a full line of insulin analogues at the market including Glargine from the 10 top world products-blockbusters. Currently, they are being developed in a top level R&D center in Strelna according to the international standards providing for a high export potential of the project.
Release of domestic vital medicinal products is one of the prioritized federal projects and an issue of national security. Own production of insulin will facilitate meeting target indicators of sectoral state programs and will contribute to social and economic and industrial development of St. Petersburg, will create new jobs for highly qualified personnel.