OREANDA-NEWS. A ceremony to open an innovation-integratedfacility to develop, introduce and manufacture medications on the basis of biotechnologies was held in the Ryazan region.

Governor of the Ryazan region Oleg Kovalev, Russian Industry and Trade Deputy Minister Sergei Tsyb and Vnesheconombank Deputy Chairman Anatoly Ballo attended the ceremony.

The project aims to create a pharmaceutical production facility in line with GMP standards. The production facility will have a full-cycle production of original innovation medications ranging from manufacturing substances to producing finished pharmaceutical products. More than 700 new jobs will be created. During a forecast period of 2010-2020 budget revenues will amount to 4.995 billion rubles.

Investments will amount to 4.8 billion rubles, with Vnesheconombank's participation share being 4.3 billion rubles.

Under the project,they plan to manufacture 14 types of products including vaccines, bacteriophages, medications for treating multiple sclerosis, renal insufficiency, degenerative joint diseases, leucosis, hepatitis B and C. Some products to be manufactured are domestic analogues to expensive imported products. Most medicinal forms are basedon radically new production technology or a product itself is innovative in terms of its composition and pharmacological effect.

Installed capacities of the first stage will make it possible to manufacture more than 40 million doses of seasonal flu vaccine and if required - up to 120 million doses of vaccine on the basis of pandemic strains ,20 million doses of other antiviral vaccines, 500 million doses of special medicinal forms of bioproducts.

This new integrated production facility to manufacture medicinal biotechnological products based on high technologies in line with international production quality standards would help to develop domestic market and would ensure the country's security in terms of import substitution of pharmaceutical products.

Under the Memorandum on Vnesheconombank's Financial Policies medical equipment and pharmaceutics are one of the Bank's activity sectoral priorities.