Nycomed to invest in cutting-edge pharmaceutical production plant

Nycomed has announced plans to invest up to 75 million euros (68 million pounds) into a brand new cutting-edge pharmaceutical production plant.

Based in the Yaroslavl region of Russia, the plant will manufacture liquid sterile products (ampoules and vials) as well as solid medicines (tablets) and will also feature a packaging facility for both solids and liquids.

Construction is due to start in 2010 and the facility is scheduled for completion in 2014 and will create 150 new jobs.

“With the investment in our production facility, we further strengthen our commitment to the Russia-CIS region. Russia-CIS is an important cornerstone in our growth strategy and optimally serving this market is vital for Nycomed,” explained Hakan Bjorklund, chief executive of the firm.

Last month, Nycomed released its second-quarter financial results, which revealed that the company turned over 786.9 million euros (680.8 million pounds) during this period, representing a 0.5 per cent rise on the second quarter of 2008.