South Korea's Green Cross said it has signed an agreement with Nanolek, a Russia biopharmaceutical company, to produce its biologics in a three-month-old facility said to be state-of-the-art.
Various recent reports covering the near-term and long-term outlook for the pharmaceutical industry in Asia paint a positive picture with increased revenues coming from the generics and biosimilars industries along with products as specific as human insulin from China.
In a conference call after reporting solid sales and earnings, Novo Nordisk CFO Jesper Brandgaard said the company expects to spend 5 billion Danish kroner ($767 million) this year to boost its capacity for manufacturing biopharmaceuticals and APIs and insulin filling, as well as some for new R&D construction.
Teva Pharmaceuticals has cut $650 million in costs this year but needs to more than double that over the next two as it faces generic competition to its workhorse multiple sclerosis drug Copaxone. A big part of that will be to continue revamping its production network, CEO Erez Vigodman says.
Mounting political tensions between Russia and the West may have recently scared Germany's Fresenius out of a partnership in the country. But they won't spook Abbott Laboratories out of its VeroPharm buy, it announced Friday.
Building political tensions between Russia and the West are making it increasingly difficult for drugmakers in the region, prompting Germany's Fresenius to dump a partnership there. The announcement comes as other drug companies have reported their businesses are under pressure in the area.
Drugmakers have been buying out OTC companies left and right lately. But would that demand apply to a Russia-focused consumer company, considering the recent slow-down in Russian investment? Unipharm is about to find out.
Novartis is reportedly caught between EU sanctions on Russia and the dictates of Russian President Vladimir Putin, who has told Western drugmakers that he expects them to build plants and transfer technology as the price of admission to the growing market.
Russia is striving to produce domestically 50% of the drugs sold in the country, and, to do so, it's encouraging global manufacturers to buy, build or rent facilities there.
While geopolitical instability in Eastern Europe would appear to make Russia a risky bet, the size of the market and incoming targets on drug production mean the likes of Abbott Laboratories are still investing. For companies unwilling or unable to strike deals like Abbott's $495 million buyout of Veropharm, a new option is tipped to emerge: CMOs.