Russia’s R-Pharm launches pharmaceutical complex in Azerbaijan

BAKU, Dec 9 (PRIME) -- Russian pharmaceutical company R-Pharm has launched a pharmaceutical complex in Azerbaijan that unites the laboratory, production, and logistics facilities, Chairman of the Board of Directors Alexei Repik told reporters on Monday.

The complex will produce oncological agents, as well as antimitotic, antiemetic, and antiviral medicines, including drugs for treatment of the HIV and hepatitis. Investment in the project’s first stage stands at U.S. $30 million, and investment after the second stage will amount to $72–73 million, but the company will decide on construction of the second stage only after it analyzes demand, Repik said.

“Partnership structure is being formed now. We expect the Azerbaijan Investment Company and AzPharm to become our partners. Financing was done through loans of the parent company (R-Pharm), the loans will be converted into equity,” he said.

R-Pharm previously planned to build a plant in Azerbaijan together with local company Vita-A in late 2016, but rejected the plan.

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