Nycomed to Invest At Least $96M for a Manufacturing Facility in Russia
Decision marks firm’s interest in the growth potential of the Russia-CIS region.!--h2>
Nycomed reports that it will invest between €65 million to €75 million ($96.15 million to $110.94 million) in a production plant near the city of Yaroslavl in Russia. The facility will produce medicines for the local Russia-CIS market, which is responsible for 10% to Nycomed’s turnover.
Construction starts in 2010, and the facility will start production in 2014 with approximately 150 employees. The site will be designed to manufacture liquid sterile products (ampoules and vials) as well as small molecule pills. Liquid production includes solution preparation, washing of ampoules, sterilization, filling, and inspection. Solid production will encompass all stages from mixing and granulation through compression and coating. In addition, a packaging line for both solids and liquids will be integrated.
“Russia-CIS is an important cornerstone in our growth strategy, and optimally serving this market is vital for Nycomed,” remarks Håkan Björklund, CEO. “The investment underlines our belief in the long-term prospects of the pharmaceutical market in Russia-CIS.”
Jostein Davidsen, svp, Nycomed Group, and president Nycomed Russia-CIS, adds “We have inspected many possible locations in many different regions and put Yaroslavl early on the shortlist of the most attractive locations for Nycomed. A key factor for our decision was the long-term availability of a qualified workforce, where the medical academy in Yaroslavl plays an important role. The infrastructure and land plot also meets our requirements.”