OREANDA-NEWS. On August 14, 2009 The Ministry of Industry has proposed establishing a pharmaceutical holding on the basis of Rostekhnologii by 2012. The Industry and Trade Ministry has proposed forming on the basis of Rostekhnologii a pharmaceutical holding to merge the development and production of medicines, according to the rollout strategy of the pharmaceutical industry until 2020, which was posted on the ministry’s website, reported the press-centre of FINAM.

The new entity is to be created as part of the first stage of the strategy’s implementation by 2012. A total of RUB 117.6 bn is required for this purpose from the budget and businesses, relevant amendments to the legislation and comprehensive cooperation of the “key development institutions”, including state corporation RVC, Rosnanotekh, and Vnesheconombank, according to the document.

The strategy says that Rostekhnologii could be authorized to collect information on attracting new technologies and investments into the industry, in addition to development and production.