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On October 16, 2017, Sanofi, a global integrated healthcare leader, announced the signing of a Special Investment Contract (SPIC) to modernize its pharmaceutical facility, the Sanofi-Aventis Vostok plant in the Oryol Region, and to launch the production of pharmaceuticals that have no Russian-made analogues.

The signing ceremony was held at the plenary meeting of the Foreign Investment Advisory Council, attended by Prime Minister Dmitry Medvedev and Chief Executive Officer of Sanofi Olivier Brandicourt. Other officials present included Minister of Industry and Trade Denis Manturov, Governor of the Oryol Region Andrei Klychkov, and General Director of Sanofi Russia Naira Adamyan.

The plan is to modernize production, to expand the local manufacturing of new-generation innovative insulin to a finished dosage form by 2019, and further develop Russia’s export potential for the supply of modern insulins manufactured in the Oryol Region.

A Special Investment Contract guarantees a manufacturer expanding the local production stable tax rates and other official requirements, and a local status for the drug manufactured under the SPIC up until the finished dosage form production begins.

The full text of the Sanofi press release is available on the company's website.

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On June 17, 2016, CLAAS and the Russian Federation, represented by the Ministry of Industry and Trade, entered into the country's first federal Special Investment Contract (SPIC) at the St. Petersburg International Economic Forum. The VEGAS LEX law firm had prepared the required documents, and had been directly involved in the negotiations for the conclusion and subsequent implementation of the SPIC in the interests of CLAAS.

VEGAS LEX, one of the leading and oldest law firms in Russia, provides legal services since 1995 and employs more than 100 lawyers. https://www.vegaslex.ru/en/

For more information on VEGAS LEX’s services and support of investment projects, please go here.

Sanofi is a global life sciences company, which develops and implements solutions aimed at meeting the patients’ needs all over the world.

Sanofi has been working in Russia for 45 years; at present, the company employs more than 2,000 local staff. Sanofi holds one of the leading positions in the Russian pharmaceutical market, offering its patients a wide range of original medicines and generics in key therapeutic areas such as diabetes, oncology, cardiovascular diseases, general medicine, central nervous system diseases, vaccinations and rare diseases. http://www.sanofi.ru

Photo provided by Oryol Region Governor’s press service https://orel-region.ru/index.php?head=1&unit=10945