Western pharma companies have no plans to reduce presence in Russia

Western pharmaceutical companies do not plan to reduce their presence in the Russian market due to a recent deterioration of business climate in the country, caused by a new package of Western sanctions, according to the companies and the Russian Ministry of Health, reports The Pharma Letter’s Russian correspondent.

For example, these plans have been recently confirmed by Hans Duif, general director of Danish diabetes care giant Novo Nordisk (NOV: N) in Russia and Belarus, who confirmed the company’s plans to open the full-cycle insulin production at the facilities of its plant in the Kaluga region in fall of the current year.

Since 2010 the company has invested about 8 billion roubles ($130 million) in its Russian production, and is considering further investments.