AstraZeneca, an international biopharmaceutical company, announced that it obtained the approval of inter-agency commission for the conclusion of a special-purpose investment contract (SPIC).
Under SPIC, AstraZeneca will invest an additional 1 billion rubles in upgrading and organizing the Russian production facilities to manufacture innovative drugs with no analogs in Russia for the treatment of socially important diseases. The portfolio includes 4 cancer drugs, 3 medicines for the treatment of cardiovascular diseases, a medication for the treatment of bronchial asthma, an innovative hypoglycemic drug, and a medicine for the treatment of gastrointestinal tract diseases. SPIC will come into force after its signing and will be effective for 10 years. The company has become the first in the pharmaceutical market to obtain the approval from inter-agency commission.
Pascal Soriot, Chief Executive Officer of AstraZeneca, said, “Russia is an important market for AstraZeneca. We want to expand the access of patients to our innovative drugs by localizing their manufacturing. The special-purpose investment contract is a very important step along this path. The approval of SPIC is the result of productive dialog between the relevant agencies and AstraZeneca, which serves as a guarantee for expanding the investments in Russia to the benefit of Russian patients and the public in general.”