You're reading: Indar plans in 2014 to begin insulin production in Brazil

 PJSC Indar (Kyiv), the only Ukrainian company with a full cycle of insulin production, plans in 2014 to begin insulin production in Brazil at a plant built with the technology of Indar.

"In 2014, we are to start insulin production in Brazil at the "in bulk" stage. By the end of 2015, we have to finish the construction of a plant for bottling insulin, and in 2016 Brazil will have insulin production with a complete cycle," Indar Board Chairman Liubov Vyshnevska told Interfax- Ukraine.

According to her, Brazil will buy about seven million bottles of insulin per year from Indar.

The right to use the technology of insulin production of PJSC Indar in Brazil transfers to state fund FIOCRUZ (the Oswaldo Cruz Foundation). As part of this project, Indar will receive royalties as long as its technology will be used in Brazil, said Vyshnevska.

She also said that cooperation with Brazil would allow Indar to enter the markets of the MERCOSUR countries (the Mercado Comu’n del Cono Sur sub-regional trade and economic union, which includes Argentina, Brazil, Paraguay and Uruguay, and associate members Bolivia and Chile).

In addition, Indar is in talks on cooperation with Iran, registered insulin in Tajikistan, Kazakhstan, Russia, Moldova, Yemen, and took part in a tender to supply insulin to Iraq, said the head of the company.