SKIDEL, 14 September (BelTA) – The Belarus-India joint venture Novalok is expected to reach the design capacity in 2021. Grodno Oblast Governor Vladimir Karanik toured the company on 14 September, BelTA has learned.
The joint venture is located on the premises of Belarus' Belmedpreparaty company in Skidel. “This is a good example of direct foreign investment in the export-oriented project. The target markets for the solid dosage formulations to be made here will be Belarus and Russia,” Vladimir Karanik said. The major construction, installation and setup works have already been completed. Cutting-edge equipment has been installed. Pilot batches of products have been manufactured.
There are plans to produce drugs to treat HIV, viral hepatitis, as well as other medicines that are in demand on the Belarusian and Russian markets. More than 15 products might be localized here. However, the production of medicines implies certain safety procedures, including obtaining a certificate of good clinical practice and a registration procedure.
"This process was set back by the pandemic and communication disruption. Now we are waiting for the necessary documents from the Indian side. We also agreed on the further steps related to the production launch,” Vladimir Karanik said. All procedures are to be completed by October, and at the end of the year the company will be able to start exporting its products. It will reach the design capacity in 2021.
Vladimir Karanik emphasized that the company is very important for the region, as it will create 60 highly paid jobs and generate additional tax revenues. The company's export revenues are expected to approximate $15 million a year after it reaches its design capacity.
The region's pharmaceutical industry will continue growing. There are plans to boost production on the Belmedpreparaty premises in Skidel and Lida. Everything is in place for it, including highly professional personnel. “The pharmaceutical market has high profit margins. The companies of the region should become more visible on this market,” Vladimir Karanik emphasized.
