Russian Direct Investment Fund invested in the Russian pharmaceutical company GEROPHARM
Press release, 13.10.2016
Moscow, October 13, 2016 – The Russian Direct Investment Fund (RDIF) announces that it has invested in the Russian pharmaceutical company GEROPHARM. The company specializes in the production of modern high-quality drugs which restore brain function and treat diabetes. The proceeds from the deal will help GEROPHARM to increase its production of medicines. This will be accelerated through constructing a new, high-tech industrial and full-cycle plant in St. Petersburg.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
"Investments in GEROPHARM will allow the company to construct a large plant that is capable of meeting insulin demands across the whole country. Given their low production costs and high quality products, in the medium-term GEROPHARM will be able to move from importing drugs to fully exporting them to a number of countries in Latin America, Asia-Pacific, Middle East and Europe."
Petr Rodionov, CEO of the group GEROPHARM, said:
"We appreciate the importance of this transaction. The equity participation of the Russian Direct Investment Fund in GEROPHARM demonstrates not only the openness and transparency of our company but also recognizes our leading position in the field of diabetes medicine. The agreement will allow us to more effectively implement projects to expand production and to produce modern drugs not only for domestic but also for foreign markets."
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
GEROPHARM was 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