Russian Direct Investment Fund invests in Geropharm
Press release, 17.06.2016
St. Petersburg, 17 June, 2016– The Russian Direct Investment Fund (RDIF) announces investment in Geropharm, a Russian pharmaceutical company, specializing in restoring brain function and the treatment of diabetes.
This investment utilizes the mechanism designed to promote the development of companies with significant export potential.
The proceeds will be used by Geropharm for the construction of a high-tech full-cycle production complex in St. Petersburg as well as to the development of new drugs and exports. The new facility will enable the company to significantly increase production volumes.
Geropharm is included in the list of the most promising domestic pharmaceutical companies. In addition to production, the company undertakes independent fundamental research to develop new life enhancing products.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"Geropharm has a number of competitive advantages against European manufacturers, including significantly lower productions costs. After the construction of new production facilities, the company will successfully compete with global producers in Russia and abroad. In particular, Geropharm has considerable potential to increase exports to Latin America, Asia-Pacific, Middle East and Europe. The transaction is in line with RDIF’s strategy of investing in the health sector."
Petr Rodionov, head of the "GEROPHARM" group companies, said:
“Consistent support of the pharmaceutical industry is a powerful driver for its development. Today GEROPHARM is the only company in Russia involved in every stage of the insulin production process: from the synthesis of the substance to the final, measured product. In 2016 the group was set a target of providing 20% of the country's requirements for genetically engineered insulin. In our in-house R&D center we continue to develop a new generation of analogue insulin that meet international standards and therefore have high export potential. GEROPHARM will be one of the first companies in the world to bring to market a complete line of analogue insulin, including glargine, which is one of the world’s 10 best-selling drugs. The company plans to introduce the products to the Russian market in 2018. The new plant in St. Petersburg will not only fully meet Russia’s demand for insulin and satisfy demand for modern, domestically produced drugs, it will also drive our new strategy to develop our export sales".
Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
GEROPHARMwas founded in in 2001. The group is engaged in the development and production of high-quality innovative Russian medicines, investing in technological development and the development of modern pharmaceutical infrastructure. Under the “Pharma-2020” federal state program, the company receives support from the government to focus on substituting imports of socially important drugs. Further information can be found at http://www.geropharm.ru
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133