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  • Bayer and Medsintez Are Going to Establish a JV in Urals

Bayer and Medsintez Are Going to Establish a JV in Urals

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Published: 02 November 2012

In 2013, Bayer (the Russian division of Bayer AG) will launch the drug production on the premises of Medsintez, an Ural plant, as Alexander Petrov, Chairman of Medsintez's Board of Directors has told.

Bayer and Medsintez signed a cooperation agreement. "The signed strategic agreement includes the results of months of collaboration between the two companies. This is an important document that defines all subsequent interactions between us," said Petrov.

The companies will establish the joint production of Bayer-branded medicines, develop and implement new medicines and carry out drug marketing and distribution activities.

A full production cycle is supposed at the Ural plant, where Bayer is going to introduce new technologies passing them to Medsintez. The agreement was signed for a period of 10 years with the possibility of prolongation.

Medsintez (Novouralsk, the Sverdlovsk region) is a part of the Yunona Medical Holding. The company was established in 2003; it produces finished forms of genetically engineered insulin and infusion solutions.

Bayer AG is an international chemical and pharmaceutical corporation, a developer and manufacturer of medicines, plant protection products and high-tech materials. In 2010, Bayer established a Science and Technology Centre with two labs and a polyurethane plant in Noginsk (the Moscow region).

Source: VestiEconomica, the Internet newspaper

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