30 January 2013
In the past years, the global pharmaceutical industry has been experiencing a shift in its development: a geographic swing away from the major mature markets, to a set of new dynamics in “pharmerging” countries.
The Russian pharmaceutical market is one of these most dynamic and rapidly growing markets. Presently, within the framework of Pharma 2020, its healthcare system is undergoing major changes bringing substantial challenges and opportunities for multinational pharmaceutical companies. Understanding the new legislation and the direction of the country’s pharmaceutical industry is therefore essential for the success in Russia.
Henrik Konarkowski, VP Strategic Alliances at ChemDiv, an innovative business incubator in Russia will be sharing some insight on the state of the Pharma 2020 Program as well as on the Russian government’s aim at encouraging science breakthrough and innovation during the Russian Market Access Conference 2012.
Pharma 2020 is focused on the goal of re-establishing the pharmaceutical industry in Russia in the context of the market economy, especially by localizing the full cycle of drug development in Russia, from discovery to manufacturing.
Under the plan, the government, aiming at encouraging breakthrough science and innovation, is helping local companies boost production of innovative drugs by covering the costs of R&D. By doing so, the Russian government hopes to foster the development of new companies that will be capable of attracting investment, creating new jobs and producing competitive, safe, high quality and affordable products for patients.
If the progress continues in the Russian pharmaceutical industry, then by 2020, the local industry could be responsible for 50 percent of drugs in circulation, 80 percent of which would be domestically-developed. While the strategy will require a great deal of investment from the federal budget, the government is also trying to attract funds from international pharmaceutical companies. Significant improvements have already been realized as the industry grew by 17.5 percent in 2009 and is expected to reach a value of $10.7 billion by 2014.Print
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