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Drive to stimulate Russian pharma industry continues apace
In Russia, the vast majority of pharmaceutical sales are attributed to imported drugs, something that President Vladimir Putin’s “Pharma 2020” project - an initiative to stimulate local pharmaceutical development and manufacturing - aims to change.
Launched in 2009, the Russian government’s plan earmarked nearly $5 billion in funding to bring existing manufacturing sites to Good Manufacturing Practice (GMP) standards.
The project continues to stimulate demand for international pharmaceutical ingredients, manufacturing and packaging equipment.
Event organizers CPhI Russia have seen an uptick in dealmaking and investor interest. Brand director Orhan Caglayan notes “...steady growth driven by a gentrifying healthcare sector, a rising local population and government support for domestic manufacturing.”
“Currency variation aside, the pharma market is growing at just under 10% year-on-year and distributors, APIs manufacturers and machinery providers are seeing high demand across Russia and CIS countries.”
Pharma 2020 seeks to increase the market share of domestically produced drugs from 22% of sales in 2010 to 50% by 2020.
The plan is split into three phases. The first phase, which ended in 2012, focused on building new manufacturing facilities and investing in Russian research and development.
The second phase aims to boost domestic production of generics, and the final phase, from 2018, seeks to promote export growth.
The Russian State Duma (Parliament) has introduced legislation in recent years to support the plan, including cash subsidies of up to 50% of the cost of production for Russian companies manufacturing new drugs.
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