Hetero Labs Limited, a prominent Indian pharmaceutical company, has reached an agreement with the Moscow government to build a new pharmaceutical plant in the city's special economic zone. The memorandum of cooperation was signed by Anatoly Garbuzov, Minister of the Moscow Government, and Murali Krishna Reddy, Director of Emerging Markets at Hetero Labs, during the St. Petersburg International Economic Forum (SPIEF) 2026. This new facility will focus on the production of oncological and other pharmaceutical products, capitalizing on Moscow's status as a major pharmaceutical hub with over 300 enterprises. The Moscow government has committed to providing land for the plant and offering incentives such as tax rebates and a buy-back guarantee for certain products. Garbuzov emphasized the importance of international collaboration in enhancing the pharmaceutical sector, recognizing India's leadership in drug production. Hetero Labs, which already has a manufacturing presence in Moscow, aims to expand its footprint in Russia amid plans to increase pharmaceutical exports to various countries.