Geropharm to double insulin production – Russian Ag Bank

MOSCOW, Feb 17 (PRIME) -- Russian Agricultural Bank and pharmaceutical company Geropharm have signed a 1.8 billion ruble investment deal that would allow it to double its production of insulin substance, the bank said in a statement on Friday.

The bank will allocate the money to upgrade Geropharm’s production of the insulin substance in St. Petersburg’s suburb of Pushkin and creation of a bottling and packing line in the village of Obolensk in the Moscow Region. As a result, output of the substance should double, and production of packaged drugs should rise to 46 million vials per year, the bank said.

The bank expects the launch of new facilities until the end of 2023.

(74.7638 rubles – U.S. $1)

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