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Russia's pharmaceutical market to grow slightly
Russia's pharmaceutical market will grow by 2 or 3 percent from $16bn in 2008 to some $16.5bn this year in dollar terms, an executive from the market research center told journalists today. Meanwhile, the ruble-denominated market volume may climb 20 to 25 percent in 2009.
The company also expects an increase in the number of M&A deals that will involve the market's largest producers, distributors, and retail operators. At the same time, foreign players are unlikely to enter the Russian market, as they are currently staving off the consequences of the financial and energy crisis. Since their position is more critical than that of Russian companies, they are not expected to move on the Russian market before the end of 2010.
Another problem is a decline in the range of medicines available from retailers, the executive noted. The company also predicted a 20-percent rise in drug prices in ruble terms in 2009.