Monday, August 30, 2010
One billion USD are going to Russia from big pharmaceutical companies
Global manufacturers are planning to inject medicine over a billion dollars in Russian-made as part of its attempts to acquire the status of local producers and to circumvent the rigid position of the government to import medicines, writes Reuters. Rhythmic growth this market is a key for the corporate front lines against the backdrop of slowing sales in western markets and the loss of patent protection for many leading medicines. Relevant to the planned investment is the prospect of preferential treatment by Russia’s protectionist tuned. Russia has set itself the goal by 2012 to increase the share of domestic producers in the total sales of the medicines in the country to 25% and by 2020 it reaches 50% from current 20 per cent. The acquisition of status “local player” by building or buying factories in the country is so global companies to gain access to the expected strong growth in a time when the government plans to limit imports, sources of comment on Wednesday. It is expected that this year Russia with its 140-million population reported double-digit percentage growth in its pharmaceutical market, according to industry analysts, against an estimate of 4-6 percent for the sector globally.
Recently, several global companies, including Nycomed, and Novo Nordisk, announced plans to begin manufacturing in Russia. AstraZeneca and Novartis are also considering such a move, the agency recalled.