Russian government predicts bright prospects to national pharma industry

The Russian pharmaceutical industry is booming, despite the economic recession in the country and devaluation of national currency, caused by sanctions, according to Sergey Tsyb, Russia’s Deputy Minister of Industry and Trade.

According to Mr Tsyb, despite the sanctions, no Russian and Western companies have abandoned their investment plans for Russia for the coming years, reports The Pharma Letter’s Russia correspondent.

Mr Tsyb has explained that the current boom is mainly due to successful implementation of the existing state strategy “Of the development of Russian pharmaceutical industry until 2020,” which resulted in the establishment of production of up to 60% of drugs from the list of vital within the country.