Baxter To Invest USD25mn In Local Drug Production

News: On May 13, a meeting was held between the general director of Baxter in Russia, Stanislav Bogdanovsky, and Alexander Shokhin, the president of the Russian Union of Industrialists and Entrepreneurs (RSPP), to discuss the US drugmaker's plans to start drug production in Russia. Baxter, which has operated in Russia since 1993, is planning to invest USD25mn to localise its drug. Shokhin stressed the importance of such projects, as they will considerably decrease the burden on the federal budget and create jobs in the country. Shokhin also believes that such projects will make modern medical care much affordable in the country.

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Related sectors of this article: Pharmaceuticals & Healthcare
Geography: Russia