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India's Hetero Labs to Build Moscow Pharma Plant
3 Jun
Summary
- Hetero Labs will construct a new pharmaceutical plant in Moscow.
- The agreement expands pharmaceutical collaboration between India and Moscow.
- The plant will focus on producing oncological and other critical drugs.
Hetero Labs, a prominent Indian pharmaceutical company, has entered into a significant agreement with the city of Moscow to construct a new manufacturing plant. This expansion will take place within a dedicated special economic zone in the Russian capital, aimed at fostering greater pharmaceutical collaboration.
The memorandum of cooperation was formally signed by representatives from both the Moscow government and Hetero Labs. This initiative is seen as a crucial step towards enhancing Moscow's status as a major pharmaceutical and medical instrumentation hub, attracting international expertise.
Sanjay Nayak, CEO of Hetero Labs' subsidiary Makiz Pharma, stated that the factory will be dedicated to producing oncological drugs and other essential pharmaceuticals. Moscow's government is supporting this venture by providing land and offering incentives such as tax rebates and guaranteed buy-back agreements for certain products.
Hetero Labs is known for manufacturing active pharmaceutical substances and finished dosage forms for critical treatments, including HIV, hepatitis, cancer, and tuberculosis. Makiz Pharma already operates a manufacturing facility within Moscow, highlighting the company's existing commitment to the region.
The Technopolis Moscow SEZ, where the new plant will be located, currently hosts 14 companies, with 10 already producing drugs for various complex diseases. This development aligns with India's broader strategy to increase pharmaceutical exports to countries like Russia, seeking to diversify markets beyond the United States.
