Sales of mid- and high-priced drugs in Russia continue to decline

Sales of mid- and high-priced drugs in Russia are steadily declining, due to the ongoing economic stagnation in the country and the consequences of the financial crisis, reports The Pharma Letter’s local correspondent.

According to a recent report, published by the Russian Ministry of Health, such negative trends force Russian patients to shift to cheaper drugs. The report states that the financial crisis in Russia has resulted in the cut of spending on drugs of more than 70% of Russians consumers.

According to Veronika Skvortsova, Russia’s Minister of Health, although Russian customers are not ready to refuse from further drug purchases, their spending on drugs will continue to decline by at least the end of the current year.