Russian pharma market returning to normal post-COVID-19 spurt

The Russian pharmaceutical market is gradually returning to its normal state after several weeks of a roaring demand caused by the COVID-19 pandemic in the country and associated with panic buying of certain drugs, according to recent statements by some leading local producers and analysts in the field of pharmaceutics, reports The Pharma Letter’s local correspondent.

Starting from March this year, drug sales in the Russian pharmaceutical market have significantly increased compared to previous months, as local customers significantly increased their purchases, expecting a significant rise in prices and a shortage of necessary drugs in the local market already in the short-term.

According to latest data, provided by DSM Group, one of Russia’s leading pharmaceutical analyst agencies, in the first quarter of the current year total drug sales in Russia amounted to 1.5 billion packages, equivalent to 319.9 billion roubles ($4.35 billion) in value terms. In terms of value, this was almost 25% higher than the previous year.