Sberbank of Russia

10/19/2020 | Press release | Distributed by Public on 10/19/2020 06:59

Sberbank to help implement Russia’s pharmaceutical industry development strategy

Sberbank has signed a cooperation agreement with JSC Pharmasyntez, a pharmaceutical leader in Russia. The agreement was inked by Anatoly Popov, Deputy Chairman of the Executive Board at Sberbank, and Vikram Punia, President of Pharmasyntez.

The parties have agreed to join their effort in developing the pharmaceutical industry in Russia in line with the Pharma 2030 development strategy. The agreement covers interaction in multiple areas, including co-investment, debt and equity finance, long-term financing of Pharmasyntez projects, digitization and streamlining of its production, and the adoption of new technology.

Anatoly Popov, Deputy Chairman of the Executive Board, Sberbank:

'We've been working with Pharmasyntez for years across a wide range of issues. It's our long-standing customer and a reliable partner with high innovative potential. Earlier, we had approved a RUB15 bln lending limit for the company. The agreement we've signed today and our growing partnership will ensure an increase in the exportation of medications and the introduction of innovations into production while also helping to accelerate the development of this strategically important industry, which has people's lives depending on its continuous operation.'

Vikram Punia, President of Pharmasyntez Group of Companies:

'Sberbank has been our strategic financial partner for years. Combining the efforts of Pharmasyntez and Sberbank will contribute to the modernization of production with the introduction of advanced technology and the formation of a stable innovation foundation for Pharmasyntez. The attracted investment and the introduction of new technology will be used to conduct clinical trials of candidate drugs in Russia and abroad and to develop investment activities, as well as to ensure high growth rates for Pharmasyntez Group until 2025.'