New production sites can boost output of medicines in St. Petersburg

St. Petersburg authorities expect that this year the pharmaceutical industry in the city will grow by 20%. This growth will be driven by new production sites and expanding output at existing plants.

“I think that the pharmaceutical industry of St. Petersburg will grow by about 20% in 2018,” said Maxim Meyksin, Chairman of the Committee on Industrial Policy and Innovation of the city.

It is expected that the growth will be driven by the launch of new production facilities, such as new Geropharm plant, and significant output increase by a number of existing enterprises.

In 2017, the existing pharmaceutical plants of St. Petersburg shipped medicinal products worth about 30 billion rubles, said Maxim Meyksin. The pharmaceutical industry has become a Top 3 industrial sector of St. Petersburg in terms of growth rates and a Top 10 sector driving up the manufacturing in the city. According to officials, there is an ongoing active development of pharmaceutical production facilities in St. Petersburg’s Special Economic Zone (SEZ). The city government is considering a draft law on extending its Special Economic Zone Program from 20 to 49 years.

Source