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Another batch of GEROPHARM vital insulin products is delivered to Venezuela

4 September 2020

Caracas.

GEROPHARM has delivered more than 850,000 packages of insulin products to Venezuela. The current commercial batch includes rapid- and medium-acting recombinant human insulins Rinsulin® R and Rinsulin® NPH in vials, as well as ultra-rapid- and long-acting insulin analogues RinLis® (insulin lispro) and RinGlar® (insulin glargine) in cartridges. This batch size is enough to cover the full demand of the country — more than 400 thousand patients with diabetes — for about two months.


Since the end of 2019, GEROPHARM has delivered 2.5 million packages of insulin to Caracas. Insulin supplies to Venezuela are made under a schedule approved by the parties. GEROPHARM is supplying a somewhat larger volume of products than declared so that, in the event of an emergency, patients are not left without vital medications. Importantly, even the COVID-19 pandemic did not stop the supplies.

S.M. Melik-Bagdasarov, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Bolivarian Republic of Venezuela, the Dominican Republic and the Republic of Haiti: Interaction with Venezuela in the health sector is an important component of bilateral cooperation between our countries. The high quality of Russian pharmaceutical products, their affordability in comparison with foreign counterparts contributes to the strengthening of Russia's positions on the global pharmaceutical market. It is gratifying that GEROPHARM fulfills its obligations to deliver to Venezuela on time and without interruption, despite the difficult epidemiological situation in the world and Western anti-Venezuelan sanctions. This once again testifies to the high degree of reliability and responsibility of the Russian manufacturer and exporter.

As a reminder, the company performs regular supplies under a strategic long-term cooperation agreement with the Government of Venezuela signed during the St. Petersburg International Economic Forum in 2019 by GEROPHARM CEO Pyotr Rodionov and Venezuelan Vice-President for Economic Affairs Tareck El Aissami.

As of the date of the strategic cooperation agreement, international insulin manufacturers had almost completely stopped supplying essential insulin products to Venezuela — a country with no local insulin manufacturers.

Implementation of the project plays a decisive role in the development of humanitarian cooperation between Russia and Venezuela, which significantly improves the country’s international image. The company estimates that the share of GEROPHARM may reach 20 % of total trade between Venezuela and Russia in 2020.

Ivan Gil, Deputy Minister of Foreign Affairs of Venezuela, told TV channel Russia Today about GEROPHARM insulin supply to Caracas: https://www.youtube.com/watch?v=2Ufn50QW4F0&feature=youtu.be

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