http://en.rian.ru/business/20100428/158788801.html
Danish firm to build insulin plant in Kaluga
18:5228/04/2010
MOSCOW, April 28 (RIA Novosti) - Danish company Novo Nordisk, a world leader in
production of anti-diabetic medicine, has signed an agreement to build an
insulin plant in Kaluga, the regional administration's press service said on
Wednesday.
The statement said that the agreement was signed by Kaluga Region Governor
Anatoly Artamonov, Novo Nordisk's president and chief executive officer, Lars
Revien Sorensen, and the company's vice president for CIS countries, Sergei
Smirnov, in Copenhagen on the sidelines of President Dmitry Medvedev's visit.
Artamonov said the project will become another important step in creating a
major pharmaceutical cluster around the Grabtsevo technopark outside Kaluga.
Under the agreement, the construction of the insulin plant, which will be 100%
owned by Novo Nordisk, will have several stages, with overall investment
expected to reach $80 million-$100 million.
"Each subsequent stage will be launched if the previous one is accomplished and
the investment situation is favorable," the statement said. It also said that
the launch of the first production line at the plant was planned for December
2012.
Sorensen said that a plan to build a plant in Russia was unprecedented not just
for the company but for Danish business as a whole.
Smirnov said the Kaluga Region was picked for the project after two years of
thorough research.
"We are happy with the decision and with the cooperation of the Kaluga
administration in developing our project and improving the conditions for the
treatment of diabetes in Russia," he said.
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