On June 6 GEROPHARM (Russia) and ESPROMEDBIO, C.A (Venezuela) signed a Strategic Partnership Agreement at the St. Petersburg International Economic Forum foundation. GEROPHARM CEO, Pyotr Rodionov, and Vice President of the Bolivarian Republic of Venezuela for Economic Affairs, the Minister of National Trade and Industry, Tareck El Aissami were the signatories. The Minister of Trade and Industry of the Russian Federation, Denis Manturov, also participated in the ceremony.
The document defines the key areas of cooperation of the companies in the field of supply and production of insulins in Venezuela.
The agreement concluded is of strategic nature and an important step towards the development of cooperation between two countries. Implementation of the Russian-Venezuelan project will make it possible to provide hundreds of thousand of Venezuelans suffered from diabetes with modern, effective and accessible insulin products within a short period of time.
According to the Healthcare Ministry of Venezuela there aremore than 1.2 million people with diabetes in the country. About 400 thousand people need everyday insulin injections.
Currently, Venezuela has a limited amount of the drug which is not enough to meet the demands of the population on the regular basis. There are no local insulin manufacturers. Within the framework of the agreement concluded the amount of supplies of Russian insulins will make more that 8 million vials per year.
By the end of 2019 volume of the product supplied by GEROPHARM is expected to reach 15 million doses of insulin per month.
Due to the economic blockade affecting Venezuela and preventing from buying medical supplies from foreign financial organizations, the country is focused on the new cooperation plans in the area of medicinal products supply.
This Strategic Partnership Agreement gives GEROPHARM the right to receivea permission of Venezuelan regulatory authorities for the supply of Russian insulins. This means that first shipments can start in summer of 2019.
Realizing challenges faced by Venezuela GEROPHARM is ready to take every effort to provide Venezuelans with insulin. Within the projects the company does not only plan to deliver finished products to Venezuela, but also to assist in establishment of local production site and in training of highly qualified professionals for ESPROMEDBIO.
According to the company’s estimate transfer of the technology to produce finished insulin dosage forms takes from 3 to 6 months in average.
Therefore, the strategic partnership between two countries can create the foundation to ensure national security of Venezuela.
Pyotr Rodionov, GEROPHARM CEO: “This agreement is a very important step for us. First of all, this is a chance to help solve an acute social problem. Insulin is a necessity, and the life of hundreds of thousands of patients with diabetes depends on everyday injections. That is why shortage of insulin is a huge humanitarian disaster for any country. Besides, today insulin export development is a strategic task for the company. The regions of the first priority include Latin America, Southeast Asia, the Middle East and North Africa, the Gulf countries and the European Union. We have achieved success both entering new markets and processing export processes and technologies. For example, this April the company submitted a case file to register all dosage forms of human gene-engineering insulins (vials, cartridges and pen-injectors) in Cuba. Apart from that, we have a successful experience of technological transfer of insulin production to Kazakhstan. We are going to begin implementation of the project in another country of Latin America soon.”
D. V. Manturov, the Minister of Industry and Trade of the Russian Federation: “Currently, we are do not only meet the needs of the Russian healthcare system in insulins, but we are ready to develop an export area. Modern developing and manufacturing technologies, quality and affordability of the products guarantee high competitiveness of Russian insulins at international markets. Besides, considering humanitarian significance of the project, the agreement became an important step towards development of bilateral cooperation between Russian and Venezuela.”
Gerardo Briseno, Deputy Healthcare Minister of Venezuela: “This agreement gives an opportunity to purchase products that will be beneficial for the country not just because of the insulin supply, but also because of the technological development associated with agreement performance. Besides, ESPROMED BIO is going to buy drugs from GEROPHARM at a lower price than transnational companies offer. Thanks to this agreement Venezuelan party will strengthen relationship with its allies that can increase the level of national production and intensify Venezuelan state policy due to consolidation of efforts to develop high-quality medicinal products and medical supplies for healthcare system.”
GEROPHARM is a Russian biotechnological company, a leader in insulin development and production. The Company has been occupying the first position by sales volume among the manufacturers of human genetically engineered insulins (HGEI) since the end of 2016. Today, the company provides about 30 % of the Russian Federation demand for HGEI.
All stages of insulin production, including the molecule biosynthesis, are carried out at the company’s own production facilities in the Russian Federation. In 2018 the company held an opening ceremony for a new factory in St. Petersburg with participation of the Russian President, Vladimir Putin. Launch of GEROPHARM new operating capacity in November 2018 created conditions to develop insulin export to the distant foreign countries.
Modern developing and manufacturing technologies, high quality of the products, independence from foreign deliveries guarantee high competitiveness of Russian insulins at international markets.
Since 2011 the company portfolio includes two human gene-engineering insulins – Rinsulin® R and Rinsulin® NPH, 10 more products are being developed (insulin analogues and HGEI) with registration of 4 of them being expected in 2019.
ESPROMED BIO C.A. is a public company developing and manufacturing biological medicinal products. The company is attached to the Ministry of the People’s Power for Healthcare of the Bolivarian Republic of Venezuela.It manufactures vaccines, monoclonal antibodies, erythropoietins, interferons and other biological products.
Production capacity of the Venezuelan factory is 120 million doses of biological products per year. Apart from that, the company has three independent state-of-art laboratories that can produce 50 million doses of diphtheria toxoid, the same amount of vaccines against whooping cough and 60 million doses of tetanus toxoid per year.
In 2016 the biotechnological factory included in a list of the most important ones in Latin America extended its capacity through the alliance with a factory manufacturing non-sterile solid oral dosage forms. This helps provide Venezuelan population with patented pharmaceutical products.