Cadila Pharmaceuticals, one of the largest privately held pharmaceutical companies in India, is considering building a pharmaceutical manufacturing plant in Russia’s Astrakhan region, according to regional authorities.
The company is currently looking for a site, where the new plant is expected to be located and, in addition to Astrakhan, may consider the possibility of building a plant in the Yaroslavl region, due to its close proximity to Moscow, Russia’s largest pharmaceutical market in terms of sales.
Could involve up to $150 million investment
Financial details of the project, as well as the capacity of the new plant have not yet been disclosed. However, according to some sources close to the Astrakhan region, the volume of investments may reach $150 million. The new plant is expected to produce the majority of the company’s drugs and in particular its flagship anti-tuberculosis range.
The establishment of a production facility in Russia is part of Cadila’s program of foreign expansion during the next, which involves the increase of sales and establishment of production facilities in the emerging markets of Russia, China and African countries.
14 March 2013
The Pharma Letter