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Western pharma companies have no plans to reduce presence in Russia

Western pharmaceutical companies do not plan to reduce their presence in the Russian market due to a recent deterioration of business climate in the country, caused by a new package of Western sanctions, according to the companies and the Russian Ministry of Health, reports The Pharma Letter’s Russian correspondent.

For example, these plans have been recently confirmed by Hans Duif, general director of Danish diabetes care giant Novo Nordisk (NOV: N) in Russia and Belarus, who confirmed the company’s plans to open the full-cycle insulin production at the facilities of its plant in the Kaluga region in fall of the current year.

Since 2010 the company has invested about 8 billion roubles ($130 million) in its Russian production, and is considering further investments.

According to Mr Duif, the market potential in Russia is supported by the high number of people suffered from diabetes, which is officially estimated at 4.5 million and likely significantly higher in reality.

Western drugmakers are now closely monitoring the Russian market, awaiting new possible restrictions.

According to the director for communication with public authorities of Pfizer (NYSE: PFE) Russia, Nail Yegorov, the US pharma giant had localized three drugs in Russia, including a vaccine for the prevention of pneumococcal infections, which is included in the national calendar vaccinations. The value of investments amounted to about 3 billion roubles.

Mr Yegorov said the company has no plans to leave Russia, and is planning further deepening localization of their Russian production.


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