OREANDA-NEWS. On October 21, 2008 The Borisov Pharmaceuticals Plant has been negotiating with the Latvian company Grindex on setting up a joint venture, Chairman of the Belbiopharm concern Mikhail Cherepok said at a session of the Presidium of the Council of Ministers, reported the Official website www.government.by.

According to him, the company has been implementing an innovation project related to the development of solid medications. In this respect, the Borisov Pharmaceuticals Plant and the Latvian Grindex company intend to set up a joint venture in Borisov.

The head of the concern said that Latvia confirmed its readiness to take part in setting up a joint venture in the course of the Belarusian-Latvian economic forum in Minsk. The Latvian company lays down certain conditions.

In particular, the Latvian investor is waiting for the Borisov Pharmaceuticals Plant to turn into an open joint stock company in 2008. The company is against the production of unprofitable medications at the future joint venture. At present the Belbiopharm concern produces 138 medications which are unprofitable. Besides, the foreign investor suggests that the loss-making agricultural company which has been incorporated into the plant should be removed from the company.

According to Mikhail Cherepok, among other successfully developing innovation projects is the ointment production at the Belmedpreparaty Company, a new production of medications and plant-based preparations at the Ekzon-Glukoza Company in Drogichin, the production of new medications at the Izotron Plant in Lida. “We plan to implement this project before the end of the year,” the head of the concern said. That will boost the output 1.6 times and create additional 15 jobs. The reconstruction and re-equipment of the tablet production at the Belmedpreparaty Company will be finished in October 2008.

Upgrading the production at the Nesvizh Pharmaceuticals Plant has been divided into two stages. The first stage was completed in March 2008; the second stage will be finished in March 2009. Besides, the third stage including additional premises (storehouses, garages) will be introduced in December 2009, Mikhail Cherepok said.

Corn starch production at the Ekzon-Glukoza Company will be completed in 2008. The issue related to the provision of raw material has not been settled yet. In this respect the company will hold a tender on corn grain purchases, the chairman of the concern said.