The Russian-owned company Cytomed has been granted an operating license by the Finnish Medicines Agency Fimea for its pharmaceutical factory located near the border with Russia in Lappeenranta, eastern Finland.
Cytomed, founded in 1989 as one of Russia’s first private pharmaceutical manufacturing company, will be testing its equipment and validating its processes during the next six months before starting production around March-April 2014, reports Invest in Finland. The license will make it possible for the company to import active drugs into the country and to test their processes. Cytomed’s products will mainly be sold on the Russian market.
Furthermore, Invest in Finland reports that the company has plans to manufacture six different products at the factory. Also, this will create more than 20 new jobs, according to Cytomed.