Venezuela to produce insulin in alliance with the Russian Federation

The conclusion of an agreement in the medium term for the production of insulin in Venezuela was the premise of the meeting held by the People’s Power Minister of Industries and National Production, Jorge Arreaza, and the Vice-Minister of Resources, Technology, and Regulation of the Ministry of Health, Gerardo Briceño, with executives of the Russian company Geropharm.

“At the end of the working visit to Moscow, we visited the Geropharm biotechnological plant. That is where is produced the very high-quality insulin that we import into the country. Based on their investments, knowledge, and capabilities, we are going to install an insulin plant in Venezuela,” Minister Arreaza detailed through his Twitter account @jaarreaza.

From the Moscow Region, the Venezuelan government authorities evaluated the possibilities of a project together with Dimitriy Buravík and Irina Yemchenko, director of the factory and head of Geropharm’s International Development Department.

“Without any doubt, this type of manufacturing is going to ensure Venezuela’s independence from Western manufacturers who have left the market, depriving patients of a drug of vital importance to them,” Irina Yemchenko mentioned.

The head of Geropharm’s International Development Department guaranteed the acquisition of the necessary machinery, training of teams, and technology transfer. “We will do everything possible for that factory to produce quality insulin,” she said.

Minister Arreaza, for his part, stressed the importance of this project for the Bolivarian Republic of Venezuela.

“We are enthusiastic; we are sure of the success of these joint projects,” added the head of the Ministry of Industries and National Production.

Venezuela and Russia signed a framework agreement for a pharmaceutical strategic commercial alliance between Espromed Bio and Geopharma for insulin supplies. Now, the parties are evaluating expanding the clauses for the production of the drug in Venezuelan territory.

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