Aurobindo Pharma jv with Diod to manufacture generic drugs in Russia
New GMP plant to be built near Moscow to make generic and over-the-counter products
Aurobindo Pharma and Diod, a Russian manufacturer of nutrition supplements, have established a 50:50 joint venture in Russia. The jv, to be called Aurospharma Company, has been set up to manufacture and sell pharmaceuticals in the markets of Russia, Belarus and Kazakhstan.
As a part of this co-operation, the jv intends to construct a state of the art plant to manufacture non-penicillin and non-cephalosporin prescription generics and other drugs that are categorised as OTC products in Russia.
The plant will focus on production of socially significant medicinal drugs and complies with the priorities of the Pharma-2020 Strategy approved by the Russian Ministry of Industry and Trade, since it will help to make the Russian public healthcare system less dependent on import of finished dosage forms and make modern pharmaceuticals more affordable and accessible in the member countries of the Customs Union.
The new facility will meet GMP standards and will be constructed in the Podolsk District, Moscow region. It is expected to come on stream towards the end of 2013.
‘We believe that the establishment of the jv should allow us to become an important player at the Russian pharmaceutical market within the target period,’ said Vladimir Tikhonov, Diod ceo. ‘Diod intends to enrich this project with its unique long-term experience in selling medicinal drugs and nutrition supplements in the markets of Russia, Belarus and Kazakhstan and support it with its own distribution network resources and streamlined channels of interfacing with medical organisations.’
Vishnu Sriram, associate vice president of Aurobindo, said: ‘Establishment of a jv with Diod perfectly weds with our international expansion strategy. Using the Russian partner’s marketing vision, we will be able to enter the growing and challenging Russian market with greater confidence and expedite our presence in the market.
‘Aurobindo will enrich the jv with its successful international experience in manufacturing generics.’
