New legislative amendments may result in huge losses for global pharma producers in Russia

Sergei Lisovsky, a well-known Russian senator and public figure, has put forward an initiative to make controversial amendments in the Russian Federal Law “On the Circulation of pharmaceutical drugs in Russia,” the basic law in the Russian pharmaceutical market, which may negatively affect the Russian business of multinational pharmaceutical producers.

According to Mr Lisovsky’s proposals, there is a need to start regulating prices on all the drugs available in the Russian market, and to impose a ban with regard to foreign producers participating in the state tenders for the procurement of drugs (for state needs with further supplies to state hospitals, clinics etc), in the case of production of similar drugs by the Russian companies.

Price regulation likely via trade mark-up restrictions