Russian drugmakers eye expansion into Western markets

Amid the ongoing stagnation of the Russian pharmaceutical market, local drugmakers have significantly increased exports of their drugs, according to recent statements, made by representatives of some leading local pharmaceutical producers and industry analysts, reports The Pharma Letter’s local correspondent.

The latest data, published by RNC Pharma, one of Russia’s leading analyst agencies in the field of pharmaceutics, show that in nine months of 2019, the volume of drug exports out of Russia (except CIS countries), reached 400 million packages in volume terms and 20 billion roubles ($320 million) in terms of value. That was 7.7% and 23.5% higher respectively, compared to 2018.

Russian analysts believe low rates of development of the domestic market currently remains one of the major reasons for the ever-growing interest of local producers for foreign expansion. According to them, this year the domestic market primarily grew due to good dynamics of the segment of public procurements. The latter segment, however, is dominated by foreign pharmaceutical producers, whose drugs are protected by patents and have no analogues in Russia.