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04.05.2017

Shire and Generium set up JV in Russia

Generium, one of Russia’s leading drugmakers and owned by a local billionaire Victor Kharitonin, has officially announced the establishment of a joint venture with Ireland-headquartered Shire (LSE: SHP), reports The Pharma Letter’s local correspondent.

It is reported that the newly-established joint venture will be known as SG Biotech and will focus on the deliveries of drugs for the treatment of hemophilia to the Russian market.

Shire has not ruled out the possibility of the transfer of the production of its drugs to the facilities of Generium, which is currently operated at a plant in the Vladimir region.

At present, the drugs for the treatment of hemophilia are included in the state program for the purchase of the most expensive drugs for the treatment of rare diseases, which is known as "Seven Nosologies."

In 2016 total procurements of drugs for hemophilia in Russia were equivalent to 10 billion roubles (~$175 million). The main volume of supplies, amounting to about 3.5 billion roubles, are accounted for by drugs from Baxalta, which is now a subsidiary of Shire. The second place in the sector is occupied by Generium, which supplies a total 2.3 billion roubles of hemophilia products. Currently the companies control about 70% of the Russian market of drugs for the treatment of hemophilia.

In the meantime, analysts of the Russian Ministry of Health believe that the establishment of the joint venture will be beneficial to Shire, as it will provide the company an access to the promising Russian pharmaceutical market.



Source:  www.thepharmaletter.com

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