AstraZeneca plans further Russian expansion
Anglo-Swedish pharma major AstraZeneca (LSE: AZN) plans to continue active development on the Russian pharmaceutical market during the next several years, despite the deterioration of local business environment and devaluation of national currency – the rouble, caused by sanctions, according to Pascal Soriot, chief executive of the company.
Mr Soriot said that AstraZeneca sees big potential of the Russian market, which is mainly also due to a low level of provision with drugs of local population, The Pharma Letter’s Russian correspondent reports. Two years ago, AstraZeneca announced plans to invest $1.2 billion in Russia by 2017 (TPL December 28, 2012).
According to calculations by AstraZeneca and the Russian Ministry of Health, at present only 10% of Russian citizens have a regular access to drugs.
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