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ZURICH, Switzerland — Zurich-based Takeda Pharmaceutical International has completed construction at its pharmaceutical manufacturing facility in Yaroslavl, Russia.
The Company invested approximately $97 million in the 24,000m2 production plant, which is expected to be fully operational by 2014.
Takeda was one of the first major international companies to have invested in high quality pharmaceutical manufacturing in Russia.
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% between 2012 and 2016. Takeda plans to outgrow the market with an annual growth rate of 15% over the same period.
The Yaroslavl facility will enable Takeda to meet demand in Russia, initially Cardiomagnyl, Actovegin and Calcium tablets.
The plant, which is approximately 174 miles from Moscow, will have the initial capacity to manufacture 90 million sterile ampoules and more than 2 billion tablets per year.
"The completion of this ambitious project further demonstrates Takeda''s transition into a truly global business, and strategic investment into key emerging markets such as Russia is a major part of this strategy." said Yasuchika Hasegawa, president and CEO of Takeda Pharmaceutical Company Limited. "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."