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13.06.2017

Rostec inks deal with Arab firm for antiviral drugs in Russia

Russian state corporation Rostec has announced an agreement with an Arabian pharmaceutical producer for the establishment of a joint venture – Pharma Aid Ltd - that will focus on the manufacture drugs for the treatment of HIV and hepatitis.

Under the terms of the agreement, United Arab Emirates-based Ishvan Pharmaceutical will provide technologies to Rostec for the establishment of production, while the majority of funding for the project is expected to be provided by the Russian company.

It is planned that production will be established via the National Immunobiological Company (Natsimbio), a Rostec subsidiary and one of Russia’s largest vaccines producers.

Financial details of the project are currently not disclosed. It is planned that future production of the venture will be supplied both to the domestic and foreign markets.

Sanjeev Nanda, managing director of Ishvan Pharmaceutical, which will hold a 51% stake in the JV, said: “The pharmaceutical market in Russia is developing dynamically, and we have been long looking for a reliable Russian partner. In our opinion, the cooperation with Natsimbio opens for us new and interesting prospects. The company has a professional team with high research potential, and it is well known in the industry. A joint venture with Natsimbio will allow the market launch of Russian-made drugs that previously had no analogs.”

This is the second joint project for the production of anti-HIV drugs that was announced by Natsimbio this year. Earlier this year, the company reached an agreement with R-Pharm, another Russian pharmaceutical producer, on the establishment of joint production of drugs for the treatment of HIV.




Source:  www.thepharmaletter.com

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