Advance Pharmaceutical to invest $25 million in building plant in Russia

USA-based privately-held drugmaker Advance Pharmaceutical Inc is considering establishing a facility for the production of its drugs in Russia’s Belgorod region (Central Russia), according to the company. Advance Pharmaceutical engages in the design, research and development, manufacture, marketing and distribution of prescription and over the counter pharmaceutical products.

 

Currently the company is continuing talks with the authorities of the Belgorod region, regarding details of the project. It is planned that the design capacity of the new plant will be up to 1,045 billion drug units. Estimated investment at the initial stage is 700 million roubles (around $25 million). 

Further details of the project are not disclosed. The majority of future production of the plant is expected to be sold in the Russian market. There is also a possibility that part of the plant’s future production will be exported, in particular to neighboring states.