Promomed sets sights on becoming leading drugmaker in Russia

Russian drugmaker Promomed is aiming to accelerate expansion in both domestic and foreign markets in the coming years, reports The Pharma Letter’s local correspondent.

The founder and chairman of Promomed, Pyotr Bely, said in an interview with the Russian Vedomosti business paper, the company wants to increase the share of innovative drugs in its revenue structure from 56% in 2023 to more than 70% by 2028 and to pay more attention for the development of new drugs.

According to Mr Bely, as part of the company’s plans is also increasing funding of its R&D activities, the value of investments in the last three years has amounted to 4.5 billion roubles (~$52 million), or approximately 10% of revenue. In the next several years the company plans to pay a particular attention for the development of anti-cancer drugs.