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Sanofi Aventis Will Join Russian Drug Project

From Associated Press (November 27, 2009)

NEW YORK--French drugmaker Sanofi Aventis said Friday it will participate in a program that is intended to encourage drug innovation in Russia.

A Sanofi Aventis insulin factory in Russia will be part of the "Pharmpolis Project," the company said. Sanofi Aventis confirmed its plans with a subsidiary of Rostekhnologii, a Russian state holding company.

Pharmpolis is a Russian government effort to expand the pharmaceutical business. Its goals include bringing drug manufacturers to the country, supporting manufacturers, and providing supplier networks.

In morning trading, Sanofi Aventis’ U.S. shares lost 93 cents, or 2.4 percent, to $38.53.

Posted: November 2009