The German pharmaceutical company Bionorica sold its plant in Russia to the Russian company VTF in Voronezh.
Earlier, in August 2023, Russian newspaper Vedomosti reported that Bionorics decided to sell its plant due to sanctions imposed on Russia by the European Union. As a result, the import of raw materials and equipment necessary for producing medicines became impossible.
The amount of the transaction was undisclosed, but VTF said that it would significantly increase its production capacity thanks to the deal.
Bionoricas is one of the leading manufacturers of herbal medicine.
VTF said in a statement that thanks to this transaction the company will significantly increase its production capacity for the production of a wide range of medicines, both under its own VTF brand and through contract manufacturing.
Bionorica employs over 2,200 people. More than half of its employees work in Germany. During the past financial year (2023), the Bionorica group generated turnover of €471 million.
