MINSK, 26 June (BelTA) – Another $10 million of investment is to be injected in the state-of-the-art production of cancer drugs by Nativita. The matter was discussed at the meeting of Chairman of the Council of the Republic of Belarus Mikhail Myasnikovich with Rajeev Nannapaneni, Vice Chairman & CEO of India's pharmaceutical giant Natco Pharma Limited, co-founder of Nativita, BelTA learned from the press service of the Council of the Republic.
This will be Belarus' first biotechnological company that will use monoclonal anti-cells. The new pharmaceutical plant will be up to par with the frontrunners of the global pharmaceutical industry. The production will be upheld by a unique R&D center.
“Provision of medicines is high on Belarus' agenda. We are interested in manufacturing a broad range of medicines. Belarus is a great place for this, and a good springboard for penetrating the market of the Eurasian Economic Union,” Mikhail Myasnikovich said.
Rajeev Nannapaneni praised the way the project is being implemented and expressed confidence that cooperation with Belarus will remain successful. “Natco Pharma Limited is one of the world's leading producers of cancer drugs and India's leader in this pharmaceutical niche. “I am convinced that we will be able to meet Belarus' needs for high-quality and affordable drugs. We are glad to run our business here and are very optimistic about the future,” he said.
The project involves companies from Belarus, India, Slovakia, and Lithuania. Investors have already injected $15 million in the construction of the pharmaceutical plant. By now, 22 drugs have been registered. "The total sales in 2018 amounted to $17 million; the figure is expected to rise to about $28 million this year,” said Aleksei Sychev, Chairman of the Board of Directors and Acting Director General of Nativita. “The company is set to develop at least seven new drugs every year,” he added. This is not only the production of generics, but also development of the company's own original drugs. For this purpose, a set of top-notch laboratories will be set up to develop medicines and control their quality.
Deep localization and manufacture of drugs through the full production cycle promises good export opportunities. The plant is expected to export $7.7 million worth of products this year. Within five years this figure is to increase to $50 million.
All in all, three investment projects involving Indian pharmaceutical companies are underway in Belarus: in Beshenkovichi (Vitebsk Oblast), Skidel (Grodno Oblast) and Kolyadichi (Minsk Oblast).More about Economy