Prices for imported active ingredients rising again in Russia

Prices for imported active pharmaceutical ingredients (APIs) are rising again in Russia after the decline in 2022. This year the growth is equivalent to by 40%-100% year-on-year due to the devaluation of the rouble and the need to use intermediaries for these procurements, reports The Pharma Letter’s local correspondent.

According to recent calculations by the Russian analytics agency RNC Pharma, about 80%–85% of Russian drugs are made from imported active ingredients. According to DSM Group, another Russian analytics agency, in 2022 imports of ingredients to Russia in volume terms increased by 50%, to 25.3 million kg year-on-year, and in value terms by 11%, to $2.3 billion.

According to local analysts, the latest wave of rouble devaluation in June-July may accelerate the rise in prices for imported substances, but analysts do not expect a “completely negative scenarios.”