Moscow, June 2016. The Russian Direct Investment Fund (RDIF) announces investment into the
Russian pharmaceutical company GEROPHARM, specializing in the
production of modern high-quality drug products, including drugs for
brain function restoring and diabetes treatment.
The business deal is performed on the basis of a number of investments
into the company’s projects that have significant export potential.
The funds will be used for the construction of a high-tech
manufacturing platform, operating on a full cycle principle in St.
Petersburg, as well as for the development of new drug products and
exports. The new production facilities will be enough to increase the
GEROPHARM is included into the list of the most promising local
pharmaceutical manufacturers of the pharmaceutical market. In addition
to drug production, the company conducts independent scientific trials
and invests in the fundamental projects for their further practical
application in medicine.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF):
"GEROPHARM Group has a number of competitive advantages against European manufacturers, including significantly lower production cost of its key drugs. After the construction of new manufacturing facilities the company will be able to compete successfully with the global manufacturers not only in Russia but also abroad. In particular, GEROPHARM has considerable potential to increase its export to Latin America, the Asia-Pacific region, the Middle East and some other European countries. The deal corresponds to the strategy of RDIF which is aimed to foster new investment opportunities in the health care sphere".
Petr Rodionov, the Head of GEROPHARM Group:
"Consistent support of the pharmaceutical industry is a powerful driver for its development. Today, GEROPHARM is the only company in Russia that produces insulin on a full cycle principle:from substance synthesis to finished dosage form. In 2016 the company set a goal of covering 20% of the country's demand for genetically engineered insulins.
In our R&D center we are developing a new generation of analogue insulins that meet international standards, and therefore have high export potential. GEROPHARM will become one of the first companies in the world to introduce to the market a full line of analogue insulins, including glargine, one of the top 10 best-selling drugs. The company is planning to introduce these drugs to the Russian market in 2018.
The construction of the new plant in St. Petersburg will not only allow the company to cover the country’s demand for insulin and saturate the market with modern drugs of local production, but also focus on a new strategic direction – export development".