Russian company to establish insulin manufacturing plant in Pakistan

KARACHI: Russian firm Zavod Medsintez and its local partner, Genetics Pharmaceuticals Private Limited, plan to invest around $80 million in Pakistan’s pharmaceutical sector to begin local production of insulin, sources said on Monday.

Under the plan, the two companies will establish an aseptic filling plant and an insulin manufacturing facility in Pakistan in two phases.

The first phase is expected to be completed by December 2028, while the second phase is scheduled for completion by December 2031.

The development comes as DRAP allowed the Russian manufacturer and its local partner to market Rosinsulin R, Rosinsulin C, and Rosinsulin M 30/70 insulin products.

According to sources, the first phase involves the construction of an aseptic filling plant with an estimated investment of around $20 million. The facility, which will handle bulk import and aseptic filling of insulin and related products, is expected to be completed by December 31, 2028.

The second phase includes the establishment of an API production plant with an estimated investment of approximately $60 million.

The project will also involve technology transfer and the development of biotechnological products, including insulin manufacturing from API purification to final packaging, through C Biotech. This phase is expected to be completed by December 31, 2031.

DRAP said it would closely monitor the project’s progress and require the companies to submit detailed stage-wise investment timelines.

Read More: Russia approves fish and seafood imports from Pakistan

Earlier, Russia approved the import of Pakistani fish and seafood, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced.

Describing it as a historic achievement, the minister said that, for the first time, the way has been paved for the export of Pakistani seafood to the Russian market.

He revealed that 16 Pakistani companies have been granted permission to export fish to Russia, adding that access to the Russian market is also expected to open doors to countries within the Eurasian Economic Union.

The minister noted that the Marine Fisheries Department is ensuring that all seafood exports meet international standards.

Chaudhry expressed optimism that Pakistan’s annual seafood exports, currently exceeding $500 million, could rise to $800 million following entry into the Russian market.