Bioton aims at 20% of Russian insulin market

Polish biotechnology company Bioton says that it expects its activities in the Russian drug market to generate between $40.0 million and $50.0 million during 2007, according to a report by the Interfax news agency. The firm added that it predicts that revenue from sales of its insulin products in the country will produce revenues of around $20.0 million this year.

Bioton's chief executive, Adam Wilczega, said that the firm aims to achieve a 20% share of the Russian insulin market, which it estimates to be worth around $300.0 million per year in 2007.

The company added that it has gained licenses to sell three types of recombinant human insulin in Russia, and has already received orders to supply $8.6 million worth of product.