Govt commission approves purchase of Stavropol's Biocom by India's Lupin
MOSCOW. Dec 11 (Interfax) - The government commission for control over foreign investments has approved the purchase of the Stavropol-based CJSC Biocom by India's Lupin pharmaceutical company, Federal Antimonopoly Service (FAS) head Igor Artemyev told journalists.
Over the course of five years the company is planning to invest $200 million in the plant.
Lupin is the third largest generic pharmaceutical company in India in sales volume which manufactures cardiovascular, diabetes medication, antibiotics and anti-inflammatory drugs.
Biocom has been in the market of immunobiological medication since 1991. According to the company its plant has the capacity to produce 540 million pills, 200 million capsules, and 24 million units of packaging annually.
Biocom is a member of the JSC Pharm-Center group of companies, set up a distributor for SIA International by its owner is Igor Rudinsky.