Pursuant to the arrangements reached, the Pharmasyntez Group and Saint Petersburg Pharmsynthez intend to develop consistently and progressively their strategic partnership with respect to projects aimed at codevelopment, production, and commercialization of innovative drugs having a world export potential both in the territory of Russia, EEU, and other world markets.
Two renowned pharmaceutical companies are also going to co-develop new technological platforms capable of improving efficacy, quality, and safety of both new, innovative drugs and known generics with insufficient parameters of solubility, bioavailability, with high toxicity and narrow therapeutic range.
According to Benjamin Kovac, the Vice-President on Business Development, Pharmasyntez, pooling resources of two pharmaceutical companies with respect to introducing innovative drugs at the Russian market demonstrates an approach that will help the pharmaceutical industry to solve challenges of building-up not only innovative capacity, but also the export one.
“It is the same view of the future that brought our companies together”, Benjamin Kovac noted, “In this future, we posture ourselves as the international players on the field of innovative drugs. The Agreement execution was preceded by the great work of both companies during the year. The joint potential of these large pharma companies will significantly increase a chance of success in the whole group of products selected by Pharmasyntez and Pharmsynthez as priority both for Russian and foreign markets”.
Pyotr Kruglyakov, Chief Executive Officer of PJSC Pharmsynthez, commenting the Memorandum execution, noted a great significance of this project for the industrial sector.
“We are one of the few Russian companies specializing in development and introduction of innovative drugs”, Pyotr Kruglyakov emphasized. “Our mission is to develop the newest effective drugs primarily for Russian patients. Through cooperation with the Pharmasyntez Group, we hope to reach great results by joint efforts with our partners. This is our mutual contribution to developing pharmaceutical industry and ensuring independence of our country from imported drugs”.
It should be noted that previously the companies entered into the Cooperation Agreement as a result of which an original drug Epolong® for the treatment of anemia in patients with stage 3-4 chronic renal disease will appear in the market in 2020. In early March, PJSC Pharmsynthez assigned the exclusive rights to distribution of Sehydrin®, the drug for palliative therapy, to the Pharmasyntez Group of Companies.