Indian pharma to capitalize growth opportunities in Russia amidst its Pharma 2030 regulatory changes
India's ascent as Russia's leading pharmaceutical provider has been swift, surpassing Western competitors in this critical domain. As geopolitical landscapes shift, India's crucial position in providing vital medications to Russia has turned the spotlight on the resilience and flexibility of global pharmaceutical trade alliances, reports The Pharma Letter’s India correspondent.
Russian Prime Minister Mikhail Mishustin's declaration on April 11 to increase the proportion of domestic drugs in the Russian market to 70% within a seven-year timeframe has shone the spotlight on the importance of forming strategic partnerships and joint ventures with established pharmaceutical entities - a sentiment that has particularly resonated with numerous Indian drug majors.
Indian companies have already established a strong presence in the market, positioning themselves to play a significant role in shaping Russia's healthcare landscape through collaborative ventures.
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