Vladimir Bryntsalov, one of Russiaís richest businessman, and the Belarusian Belbiopharm state concern, may invest up to $120 million in the construction of the largest pharmaceutical plant in Belarus. The new plant is expected to be built in 2015 on the base of a state pharmaceutical company Dialek.
Expected total production capacities of the plant were not disclosed. According to some Belarus media reports, however, the new facility will focus on the production of certain pharmaceutical drugs and antibiotics, which should replace their more expensive imported analogues.
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Imports now account for 80% of market
Alexander Lukashenko, President of Belarus, is unhappy with the current situation in the domestic pharmaceutical market, which is dominated by imports, which account for a share of 80% of the total market. According to him, the implementation of the project is expected to help resolve this problem and to increase the share of the domestic producers up to 50% during the next several years.
The Belarus government have already promised the Russian businessman to That it will provide all the needed tax and other benefits for the implementation of the project.
First reports about the possibility of the construction of the largest pharmaceutical plant in Belarus with the participation of the Russian investors appeared in 2008, however, due to the economic crisis, the project was suspended.
In addition to Mr Bryntsalovís investments, there is also the possibility of the launch of other similar projects by foreign investors. For instance, according to the Belarus Naviny business daily, a production facility in Belarus might be also established by Latvia-based Grindeks, one of the largest pharmaceutical producers in the Baltic region and which garners around 43% of its sales from Russia.
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