RDIF invests in Geropharm
The Russian Direct Investment Fund (RDIF) has invested in Russian pharmaceutical company Geropharm, a producer of 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 high-tech industrial and full-cycle plant in St Petersburg.
Kirill Dmitriev, CEO of the RDIF, says: "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 Geropharm, says: "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 recognises 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."