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Russia’s R-Pharm to invest €30 million in Turkish plant

June 19, 2014, 11:32 UTC+3 MOSCOW
In 2013, R-Pharm established a joint venture with a Turkish partner aimed at selling R-Pharm’s medicines in Turkey, the Middle East and the northern Africa
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At a pharmaceutical production plant (archive)

At a pharmaceutical production plant (archive)

© ITAR-TASS/Vladimir Smirnov

MOSCOW, June 19. /ITAR-TASS/. Russian pharmaceutical producer R-Pharm will invest €30 million in constructing a biotechnological plant in Turkey, CEO Vasily Ignatyev said late on Wednesday.

In 2013, R-Pharm established a joint venture with a Turkish partner aimed at selling R-Pharm’s medicines in Turkey, the Middle East and the northern Africa.

“We hope to get all necessary documents for clearance until the end of the year and to start the earthworks. We plan to finish the construction and to set up equipment until the end of 2016. The commercial launch will be made, as we expect, in late 2017,” Ignatyev said.

R-Pharm will invest €100 million in its Turkish business until 2018, he said.

Ignatyev separately said that the company will close the deal to purchase a plant from a large pharmaceutical company in Germany until the end of 2014.

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