Swiss-based Trigram and India’s Shreya Healthcare are joining forces to become the first foreign firms to build a pharmaceutical plant in Ukraine.
Sujit Kumar Singh, General Director of Shreya Corporation, said the companies will begin construction of the factory later this year. Kumar Singh said the plant will produce tablets, pills and ampoules.
The estimated cost of construction was not disclosed.
The plant will likely be located in Kyiv oblast, said Arnab Roychuramony, general director at Trigram Pharmadent International, a local subsidiary of Indian-managed Trigram GmbH.
Roychuramony said the plant will make medications for the domestic market as well as for export to the Commonwealth of Independent States.
He said the facility will help the companies lower the price of their products by cutting transportation costs and import duties.
Trigram owns a drug manufacturing facility in Mumbai, India, and is one of the top importers of pharmaceuticals to Ukraine. The company’s Ukrainian sales topped $5 million last year, led by the firm’s Coldflu over-the-counter cold remedy, Roychuramony said.
Roychuramony said the company has established an extensive distribution network in Ukraine and employs about 500 people.
Shreya also owns a pharmaceuticals plant in India and is one of the largest drug distributors in Russia.
Kumar Singh said the company’s sales of its own products alone in Russia equaled $15 million last year.
