SPIEF-2025: Ogarev Mordovia State University, “Promomed” Group of Companies and “Riyadh” Group of Companies from Bahrain establish trilateral cooperation
Within the framework of the XXVIII St. Petersburg International Economic Forum, a trilateral memorandum of understanding was signed between “Promomed”, Ogarev Mordovia State University and the “Riyadh” Group of Companies (Kingdom of Bahrain). The ceremony was attended by the Head of Mordovia, Artyom Zdunov.
The innovative biopharmaceutical Group “Promomed” and the Ogarev Mordovia State University are long–term strategic partners in the implementation of joint educational programs, research activities, and staff training for the “Biokhimik” plant. One of the most important joint projects is the opening of the Federal Center for the Development of Biotechnologies and Medicine in Mordovia on behalf of the President of Russia.
Within the framework of the trilateral memorandum, the parties agreed to develop pharmaceutical production, establish an R&D Hub for research and development of high-tech medicines, train scientific and manufacturing personnel for the pharmaceutical industry, and supply vital drugs to the “Riyadh” Group of Companies' distribution network, which covers a number of countries in the Middle East, Africa, and Latin America.
The document also provides for the launch of local production of innovative drugs based on modern Russian technologies, the development of an online platform for cross-border orders of medicines and verification of their authenticity.
"Mordovia is on the global biotechnology market. The main thing in cooperation is the joint development and supply of vital drugs to the countries of the Middle East, Africa and Latin America. These are new opportunities for our Biotechnology Center and Russian manufacturers: we are strengthening international ties, exporting and making innovative medicines more accessible to millions of people," said Artyom Zdunov, the Head of Mordovia.
"We are consistently strengthening international relations by making innovative medicines more accessible," said Petr Bely, Chairman of the Board of Directors of PJSC “PROMOMED”. – In 2024, we have significantly increased our international presence: export sales increased by 56%. Our strategic goal is to increase the share of export revenue to 15% by 2032. I am confident that with our long-term partners from Ogarev Mordovia State University and new strategic allies from the “Riyadh” Group of Companies, we will achieve all our goals and help even more people become healthy, beautiful and happy!"
Source: Press Service of the Head of the Republic of Mordovia