Russian pharmaceutical market today and tomorrow – legal overview
By Maria Borzova, Manager of Life sciences projects at VEGAS LEX and Anastasia Cheredova, Associate of Commercial group at VEGAS LEX, one of Russia’s largest law firms
The Russian pharmaceutical market is one of the fastest growing in the world, and it has always been attractive for foreign pharmaceutical manufacturers. However, a policy on import substitution, defined in the State Program "Development of Pharmaceutical and Medical Industry for 2013-2020," resulted in elaboration of several restrictive initiatives. At the same time, certain new regulatory instruments were introduced to create additional incentives for localization and investments. Therefore, the key purpose of this overview is to describe the main regulatory trends, associated legal risks and opportunities for pharmaceutical manufacturers in 2016-2017 in Russia.
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