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11 April 2018, 14:21

Indian investor increases stake in Skidel pharmaceutical plant to 84.95%

MINSK, 11 April (BelTA) – An Indian investor has upped his interest in the pharmaceutical plant to be opened in the town of Skidel, Grodno Oblast by the Belarusian-Indian company Novalok, BelTA learned from the press service of the upper house of the Belarusian parliament.

The Indian investor, Lok-Beta Pharmaceuticals Pvt. Ltd., has made an additional contribution to the Novalok charter capital to increase its stake to 84.95%. “The state-run Belmedpreparaty pharmaceutical company is considering handing over some amino acids manufacturing facilities and equipment to Novalok,” the press service remarked. The construction and installation works are 95% complete. The work is underway to organize the supplies of equipment. The total volume of FDI reached $1.73 million. To date Novalok has registered three medicines: Abakavir, Analgin, and Protionamid. The company is now forming the registration dossiers and keeps registering new drugs.

A total of three pharmaceutical plants will be constructed in Belarus with Indian participation. Another project has been launched by Belarus' Pharmatech company and India's Hetero. “A manufacturing facility covering the full production cycle is under construction. It is expected to produce antiretroviral and cancer drugs, antidepressants, and other medicines which are not offered by the domestic manufacturers. The plant will use active substances produced by Hetero Labs Ltd.,” the Council of the Republic's press service noted. There are 11 antiretroviral drugs registered in Belarus and packaged by Pharmatech.

The establishment of a cutting-edge pharmaceutical company is underway in Beshenkovichi, Vitebsk Oblast with the participation of Natco Pharma Ltd. (India). The company will be manufacturing biotechnology products and generic drugs. “The construction project is estimated at some $15 million. The company will produce over 30 medicines in different forms: pills, capsules, liquids (ampoules and flacons). An R&D complex has been set up to produce generic cancer drugs,” the press service said.

Chairman of the Council of the Republic Mikhail Myasnikovich oversees the implementation of joint Belarus-India projects in pharmaceutics.

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