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Binnopharm Group signs deals with Chinese partners worth over $35 mln

The signing of cooperation agreements with Chinese partners will enable the group to provide its own enterprises located in five Russian regions, as well as an R&D center, with cutting-edge high-tech equipment, necessary pharmaceutical ingredients and expertise in the area of the development of pharmaceutical products, the source noted

MOSCOW, June 20. /TASS/. Binnopharm Group (part of Sistema) has signed cooperation agreements with five Chinese strategic partners totally worth over 3 bln rubles ($35.4 mln), a source in the press service of the Russian pharmaceutical company told TASS.

"As part of the Russian-Chinese pharmaceutical forum that is taking place in Shanghai, a subsidiary of Binnopharm Group signed agreements on cooperation in the area of drug production, supply of active pharmaceutical ingredients and the development of pharmaceutical products with Chinese partners totally worth over 3 bln rubles," the company said.

The signing of cooperation agreements with Chinese partners will enable the group to provide its own enterprises located in five Russian regions, as well as an R&D center, with cutting-edge high-tech equipment, necessary pharmaceutical ingredients and expertise in the area of the development of pharmaceutical products, the source added.

Earlier, Binnopharm Group announced the opening of a branch office in China. The Chinese office is a platform for the development of the group’s export area, the entrance to the Chinese market and further on to other Southeastern Asian markets.

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