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06.04.2016

EXIAR insures Russian pharmaceutical exports

The Russian Agency for Export Credit and Investment Insurance (EXIAR – a part of the Russian Export Center Group) and Materia Medica Holding have concluded a one-year insurance policy for short-term credit.

According to the policy, shipments of pharmaceutical products manufactured by Materia Medica Holding to CIS countries and Mongolia will be insured.

The exports insured by EXIAR in this deal are worth RUB 25 million.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian hi-tech exports and investments abroad by insuring export credits against commercial and political risks. The Russian Export Center is EXIAR’s sole shareholder. The agency's charter capital is RUB 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.

Materia Medica Holding is a Russian pharmaceutical manufacturer. Founded in 1992, this private pharmaceutical company produces and sells more than 20 OTC brands in Russia and the CIS. It is one of the top 10 companies among Russian and foreign pharmaceutical companies on the Russian OTC market. It primarily exports to CIS countries, Mexico, and Cambodia.