IQVIA. Russian pharmaceutical retail market: weekly trends in times of the COVID-19 outbreak

14 April 2020

IQVIA Russia and CIS

IQVIA issued the report “Russian pharmaceutical retail market: weekly trends in times of the COVID-19 outbreak based on IQVIA PharmaTrend” which describe the latest market trends.

The report shows COVID-19 progress time lines for Russia, implications for Russia and the pharmaceutical & OTC market players, OTC & Pharmaceutical market updates –monthly view including regions, latest weekly market view with focus on Moscow and St. Petersburg.

Key points of current situation.

In the context of the COVID-19 crisis, Russian OTC businesses are highly disrupted with short term strong demand, limited ability for rep calls potential delivery issues, plus a mid-term economic crisis and impact on consumers:

• Current extreme demand for C&C shifts perspective;

• At the same time reps cannot visit pharmacies & HCPs and this might have a long-term impact on the business;

• Online communication to pharmacists will become more important and should be enriched with value;

• Ecommerce has just been liberalized fast in Russia (direct to home delivery) which will shift the whole market place;

• The current COVID-19 crisis will be followed by a massive economic crisis, leading to reduced spending;

• As a consequence and outright price war can be expected in the crisis which needs to be compensated by additional value creation for the categories & brands.

IQIVA recommendations

1. Review of current marketing & sales strategy in all key areas:

• Positioning of key brands – value proposition of total category and your brands – differentiation;

• Promotion strategy – investment in ATL and chains, plus separate topic online – DTC online;

• Distribution strategy – current and future role of doctors (potential lifetime recommender), distributors and the role of the pharmacy chains in online context as recommender plus POS promotion, category management, T&C, and future role of the rep in online context etc.;

• Price strategy in the light of the flow from extreme demand to extreme decline and blurred value proposition – enrich categories and brands with additional value – cross category contribution, plus potential new categories;

2. Renew strategy and update forecasts for at least three different optional scenarios for decision making;

3. Develop implementation plan with complete resource mapping for your Russian business for 2020-2023.

To read and download the full report follow the link here.

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