Russia domestic drug sales surpass imported ones; PM lauds pharmaceutical industry

On Thursday, while addressing the lower house of the Russian parliament, Prime Minister Mikhail Mishustin announced that for the first time in several years, the sales of locally produced pharmaceuticals in Russia have exceeded the sales of imported drugs, reported Russian news agency TASS.

"First off, I would like to inform you about the fast-tracking of pharmaceutical registration procedures; they have been accelerated significantly. We registered 940 new domestic pharmaceuticals and over 3,000 new medical products. Twenty five essential drugs were completely localised,” Mishustin said.

The Russian PM added, “For the first time in many, many years…growth in sales of domestic medical products exceeds the pace of sales for imported ones. The pharmaceutical industry is now growing at a rate of 10.6%.”

According to Mishustin, as early as 2022, Russia was experiencing a shortage of raw materials for medical products. However, he noted that the situation has since changed, and currently, six plants are engaged in the production of medical steel, eleven plants are manufacturing medical grade glass, and Nizhnekamsk and Kazan are producing plastics for medical products.

Russia's pharmaceutical industry

The pharmaceutical industry in Russia is one of the largest in the world and has been growing steadily over the years. The industry comprises both domestic and international companies, with many international pharmaceutical companies operating in Russia.

In 2020, the export of pharmaceutical products from Russia amounted to approximately $2.3 billion, while imports totaled around $2 billion. This resulted in a trade surplus of around $300 million.

The Russian government has been actively promoting the domestic production of pharmaceuticals in recent years, with the goal of reducing the country's reliance on imported drugs. This has led to an increase in the production of domestically manufactured pharmaceuticals and a decrease in the import of pharmaceutical products.

The Russian pharmaceutical market is primarily driven by the demand for generic drugs, which account for the majority of the market share. In recent years, the government has made efforts to increase the production of domestically manufactured pharmaceuticals and reduce reliance on imported drugs.

There are several large pharmaceutical companies operating in Russia, including Pharmstandard, R-Pharm, and Akrikhin, among others. The industry is regulated by the Federal Service for Surveillance in Healthcare (Roszdravnadzor) and is subject to strict quality control standards.

Overall, the pharmaceutical industry in Russia is a significant contributor to the country's economy and plays a crucial role in the healthcare sector.