cadila-1

Eyeing a presence in the lucrative and growing Russian market, Ahmedabad-based Cadila Pharmaceuticals is looking at investing up to $150 million to build a pharmaceutical manufacturing plant in the Astrakhan Region.

Cadila Managing Director Rajiv Modi visited the Russian region and signed a protocol with Astrakhan representative Konstantin Markelov. Modi was part of a delegation from the Indian state of Gujarat, which has a cooperation agreement with Astrakhan.

The establishment of the Astrakhan production facility is in line with Cadilas foreign expansion plans, which involve the increase of sales and establishment of production facilities in the emerging markets of Russia, China and African countries. The new plant would most likely produce the majority of the companys drugs and in particular its flagship anti-tuberculosis range, the website added.

New Delhi has requested Moscow to let Indian pharmaceutical companies form joint partnerships with their Russian counterparts. India has also asked for a nodal agency to create joint committee for the implementation of an existing MoU between Indian and Russian pharmaceutical companies. India nominated its nodal agency, the National Institute of Pharmaceutical Education and Research (NIPER), under the Department of Pharmaceuticals, while Russia is yet to follow suit.

Under the Russian Governments Pharma 2020 programme, which aims at developing domestic production base, leading Indian companies are engaging with Russian partners to consider possibilities of joint investments.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.

Tags:

Related Development


whatsapp--v1