13 July 2016
Moscow, July 13, 2016 – Pfizer, one of the world’s premier biopharmaceutical companies and NovaMedica, a Russian pharmaceutical company established by Rusnano and Domain Associates, have announced the start of a long-term strategic partnership to locally manufacture and bring to the Russian market a number of important medicines. The first step will be the construction of a modern pharmaceutical manufacturing plant located in the Vorsino industrial park, Kaluga Region.
Pfizer and NovaMedica have entered into an agreement to cooperate, signalling the development of a new partnership. Through this partnership, Pfizer proposes to invest in NovaMedica’s construction of a new manufacturing plant in the Kaluga region and license the technology for production of more than 30 medicinal products from its portfolio to the Russian partner.
The portfolio of high-tech medicinal products that the parties plan to produce at the new plant includes essential drugs for the treatment of severe bacterial and fungal infections, inflammatory diseases, cancer, as well as for use in anesthesiology (more than 30 International Nonproprietary Names, INNs). Most of these INNs are on the essential drugs list (EDL) and several are also in federal reimbursement programs Population Drug Coverage (ONLS) and in 7 Nosologies (7N).
The design, development and construction of the manufacturing plant are scheduled to begin in 2016, with the start of medicine production planned for 2020. The new plant is intended to be built in accordance with Russian and international standards, which will enable NovaMedica to manufacture for export markets. The production facilities will have potential for expansion, if new projects emerge.
Petra Danielsohn-Weil, Regional President of Europe, Pfizer Essential Health Business:
“Around the world, Pfizer works to ensure patients' access to high-quality innovative and essential treatments. We contribute broadly to the modernization of the Russian pharmaceutical industry, education in medicine and high quality manufacturing and bringing innovation in the field of medicine. Having operated in Russia since 1992, building partnerships have become a key pillar to our “More Than” investment strategy which aims to improve the quality of care for patients in Russia. The collaboration between Pfizer and NovaMedica is a good example of working together simultaneously to localize a diverse portfolio of products that are essential to patients, and in high demand by health care professionals. We are proud to partner with NovaMedica, a new pharmaceutical company in Russia, to achieve this milestone.”
Brian Dovey, Partner at Domain Associates, Member of the Board of Directors of NovaMedica:
“Domain and Rusnano established NovaMedica in 2012 and today the company has a portfolio of more than 20 products, a robust pipeline of new, innovative medicines and a first-rate management team. The strategic partnership with Pfizer provides a major boost toward NovaMedica's goal of becoming a world class leader in the fast-growing Russian pharmaceutical market.”
Leonid Melamed, Head of Managing Company, Member of the Boards of Directors of NovaMedica:
“We see that the Russian government is making a serious effort to create a strong foundation for the localization of foreign pharmaceutical innovations in Russia. We are pleased that Pfizer has agreed to invest into the development of the Russian pharmaceutical market, and has chosen NovaMedica as its key partner. Our project will open up new horizons for the Russian pharmaceutical industry and set high new standards for the localization of foreign pharmaceutical innovations. Over the next five years, total investments in NovaMedica’s projects from its shareholders and investors, including Pfizer, is estimated to be $200 million.”
The completion of the transaction is subject to customary closing conditions, including receipt of any required regulatory approvals, and final agreement by the parties on the terms and conditions of additional transaction documents.
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world's best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. For more information, please visit us at www.pfizer.com.
NovaMedica is a modern Russian pharmaceutical company established in 2012 by leading U.S. venture capital firm Domain Associates LLC and RUSNANO, an investment fund that implements state policy for the development of Russia’s high-technology industries. NovaMedica has developed a well-established infrastructure to promote and sell pharmaceutical products in the Russian market. Its portfolio currently includes 25 products in ophthalmology and gastroenterology. NovaMedica's strategy is focused on the search, registration and localization in Russia of innovative pharmaceutical products and technologies, as well as the development of the company’s own research and development activities and the establishment of a GMP-compliant pharmaceutical production facility in Russia. NovaMedica is currently building a Technology Center in Moscow that will include R&D laboratories and production facilities for advanced technologies previously unavailable on the Russian pharmaceutical market. Learn more about NovaMedica at www.novamedica.comPrint
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