Geropharm-Bio will use five-year financing to expand and modernise plant
One of Russia’s few pharmaceutical companies developing original innovative and biotechnological medicines is to receive a €5m loan from the European Bank for Reconstruction & Development (EBRD).
The Russian-owned and managed Geropharm-Bio, a subsidiary of Geropharm, will use the five-year financing to expand and modernise its Obolensk plant, near Moscow, to help it comply with international standards.
The EBRD said the company’s main focus is on pharmaceuticals for neurology, ophthalmology and endocrinology. It also manufactures genetically engineered human insulin.
The modernisation, including new filling and packaging lines, will enable the group to more than double its annual insulin output and increase its production.