13 Jul 2023 15:09

Pharmasyntez Group to enter Syrian market

ST. PETERSBURG. July 13 (Interfax) - JSC Pharmasyntez-Nord (St. Petersburg, part of the Pharmasyntez Group of Companies) has passed a Syrian Health Ministry inspection for GMP [Good Manufacturing Practice] compliance requirements and received permission to supply its medicinal drugs to the country, the company press service said.

"Entering the Syrian market is a new prospect for the company's export activities in the Middle East. Our plans include expanding the geography for supplying drugs to other countries in the region," Nikita Punia, Executive Director of the Pharmasyntez Group of Companies, was quoted by the press service as saying.

The Russian company will most likely supply Syria with a line of vital medicinal drugs: antitumor, hormonal, vaccines and antibiotics. The production capacities of Pharmasyntez will fully cover the country's needs for these medicines. Shipments are expected to start in the near future.

The distributor of Pharmasyntez products in Syria will be Maatouk, a local company.

Pharmasyntez operations are located on the Novoorlovskaya site in the St. Petersburg Special Economic Zone. In 2017, the first phase of the Pharmasyntez-Nord plant was commissioned, and in the spring of 2023, the second. The company develops and manufactures cytostatic drugs in solid dosage forms, as well as lyophilic powders and concentrated solutions. Pharmasyntez-Nord is also planning to build the third stage of the complex in the Saint Petersburg SEZ. Its area will exceed 15,000 square meters on a plot of 3.21 ha. Its launch is scheduled for 2026. An agreement was signed on the construction of the fourth stage of the enterprise at SPIEF-2023. The total investment in the construction of the four stages is estimated at about 20 billion rubles, of which 9 billion rubles have already been disbursed.