Russian biotech company Biocad has completed the construction of a pharmaceutical factory worth over 3 billion rubles ($40 million) in Moscow's Zelenograd district as part of the first contract with the Moscow authorities, the company's press service told Sputnik on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 09th September, 2020) Russian biotech company Biocad has completed the construction of a pharmaceutical factory worth over 3 billion rubles ($40 million) in Moscow's Zelenograd district as part of the first contract with the Moscow authorities, the company's press service told Sputnik on Wednesday.
"In Special Economic Zone Technopolis Moscow [in Zelenograd], we completed the construction of a complex of pharmaceutical production buildings under the first contract of the Moscow government for the supply of medicines, which provides for counter investment obligations of Biocad to launch a production of medicines in the city of Moscow," the company said.
The contract is set to allow the city to reduce the price of medicines by more than half, while the Moscow Region will receive opportunities for high-tech production, a guaranteed supply of high-quality Russian medicines and new jobs.
The company will produce and supply medicines to Moscow hospitals for seven years, with the start of production being scheduled for the end of 2020.
