Pharma Capital’s plant resumed production of medicines after some idle time

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The pharmaceutical plant of St. Petersburg-based Pharma Capital (owned by Sberbank through SBK Aktiv and Nefteservice), resumed the production of medicines after months of downtime. This is reported by Sankt-Peterburgskie Vedomosti with reference to Ivan Glushkov, the company’s CEO.

According to him, the company began to produce gastroenterological medicines in June.

“We have now started production. A contract has already been signed for the release of three products, and about ten more are at the final stage of approval,” Glushkov said.

He also announced plans to establish the production of cardiological and antiepileptic drugs.

The capacity of the enterprise is 1.2 billion tablets and capsules per year.  It can produce medicines in solid dosage forms and provide primary and secondary dosage forms, including injectable ones.

Mikhail Burmistrov, the CEO of Infoline-Analytika, thinks that it is not possible to sell an idle production facility for the money it’s actually worth. Therefore, the relaunch of drug production is the only way to help the owners of a non-core asset to find a business management partner or a potential buyer.

“Most likely, the sale will be phased. Sber will manage the business until it finds a qualified partner who can first take over the company and then buy it out,” Burmistrov believes.

As it became known in December 2021, Pharma Capital received a license for the production of medicines.