Faced with falling incomes, Russian continue to switch to generics

Original drugs have begun to be massively replaced by generics in the Russian pharmaceutical market, which is mainly due to falling real incomes of local customers and the overall negative situation in the country’s economy, reports The Pharma Letter’s local correspondent.

According to a recent report, prepared by the Russian analytics agency Romir Holding, as of now Russians have reduced spending on drugs to the lowest level for the entire observation period. Moreover, pharmacies began to close in Russia for the first time in two years.

Russian-made generics now account for 60% of market