A consortium of investors, including the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), the Russia-China Investment Fund (RCIF) established by RDIF and China Investment Corporation (CIC), and leading Middle Eastern funds in partnership with Sistema and VTB Bank, have announced the launch of the Alium pharmaceutical holding, according to RDIF.
The Alium holding is the product of a merger between the pharmaceutical companies Obolenskoe and Binnopharm. Following the merger, Alium is among the top-10 Russian pharmaceutical companies in the sector.
"The establishment of one of the leading diversified pharmaceutical holdings will enable us to develop the production of high-quality drugs in Russia to improve the quality and life expectancy of the people," Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said.
According to Dmitriev, the fact that RDIF’s international partners joined the project confirms their interest in investing in Russian medicine and pharmaceuticals, as well as their willingness to work together with RDIF to implement Russian national projects.