St. Petersburg authorities have signed an agreement with the Moscow-based pharmaceutical company R-Pharm. According to the contract, a pharmaceutical plant is to be built in the city's special economic zone.
The firm acquired a stake in Baltfarma LLC, which previously owned the contract, but was unable to realize it due to the sanctions imposed. Oleg Ergashev, the vice-governor, said that this plant will supply subsidized drugs on a non-competitive basis for seven years.
Before that, Smolny sued SmithHelskea JSC, which was supposed to build a plant producing medical devices and equipment. In total, six companies that failed to fulfill their contractual obligations will leave the SEZ "St. Petersburg".