India's plan to invest in the Russian pharmaceutical industry reviewed by F&S

India is ready to invest in the Russian pharmaceutical industry, including India-Russia joint ventures, as India's Commerce and Industry Minister, Anand Sharma, said during his visit to Russia last week. Among other resources and technologies, India is very keen in developing biotechnologies, nanotechnologies and other sciences such as genomics and bioinformatics, thereby entering the Russian health care industry.

"India is one of the largest manufacturers of generics in the market. At present, Russia is making a list of all the prescribed medicines it needs, and Indian and Russian governments are working on a protocol which will stipulate production, manufacturing capabilities and safety standards. Top drug therapeutic areas in Russia include central nervous system drugs, anti-diabetics, cold and cough medications," comments Frost & Sullivan research analyst, Swetha Shantikumar.

"In the late 90s and early 2000s, there was a very strong pharma import activity from India to Russia. At that time, Russia's main objective was to clear its debt through the Centralized Purchase System (CPS) by buying out useful commodities from India, in which pharmaceuticals also formed a major bulk," she continuous.

Beneficial for both