Updated on 11 September 2012
Takeda spends close to a billion dollars to construct 24,000 m2 production plant at Yaroslavl, Russia
Singapore: Takeda Pharmaceutical International completed the construction of its pharmaceutical manufacturing facility at Yaroslavl, Russia. The firm invested approximately $96.15 million (€75 million) to construct the 24,000 m2 production plant, which is expected to be fully operational by 2014.
The Yaroslavl facility, which is approximately 280 kilometers from Moscow, will initially produce cardiomagnyl, actovegin and calcium tablets and help in creating more than 200 jobs. The plant is constructed according to international GMP, safety and environmental standards and will have initial capacity to manufacture 90 million sterile ampoules and more than two billion tablets per year.
Takeda was one of the first major international companies to have invested in high quality pharmaceutical manufacturing in Russia, demonstrating its long-term commitment to the market. Based on sales, Takeda is the seventh largest pharmaceutical company in Russia. According to IMS Health, Russian pharmaceutical sales totaled $14.7 billion in 2011, making it the 11th largest pharmaceutical market in the world. Market sales in Russia/CIS are expected to grow at a compound annual rate of 11 percent between 2012 and 2016. Takeda plans to outgrow the market with an annual growth rate of 15 percent over the same period.
Mr Yasuchika Hasegawa, president and CEO, Takeda Pharmaceutical, said that, "Russia is our largest emerging market in terms of revenues, and is expected to contribute significantly to our growth over the next few years. The Yaroslavl facility will enable us to provide locally produced pharmaceutical products to patients and clinicians, as well as bringing significant benefits to the Yaroslavl and Russian economy."
Mr Sergey Yastrebov, the Governor of Yaroslavl Region, said that, "Takeda is one of the flagship companies in Yaroslavl's pharmaceutical cluster and is the first major international pharmaceutical company to invest in a new world class manufacturing facility in the region. This project is an excellent example of the benefits that international investment can bring to the Russian economy. Takeda is working closely with Russian companies to build the plant, and will create hundreds of high quality jobs for Russian people in the future."