Russia reveals renewed commitment to expand and promote biotechnology sector

A new fact sheet highlighting Russia's commitment to expanding and promoting its biotechnology sector has been issued by Global Health Progress (GHP), an initiative launched in April 2008 by the worldwide pharmaceutical industry to bring research-based biopharmaceutical companies, global health leaders and policymakers together to build on current partnerships to improve health in the developing world.

Although the biopharmaceutical sector in Russia is less developed than other markets, it is making progress by implementing public policies that support pharmaceutical R&D for life-changing treatments, contribute high-quality, high wage jobs to the region and increase the number of clinical trials offered to the population to improve access to drugs and help reduce the overall burden of disease.

Sector valued at $17.2 billion for 2010 and forecast to expand at CAGR of 8.3%