User talk:Cromospharma

RUSSIA: Pharmaceutical Market Profile:

Russian pharmaceutical market is one of its most dynamic sectors of the economy.

According to RMBC (a consulting and market research company specializing in assessing pharmaceutical markets), the Russian market for pharmaceuticals was valued at $5.8 billion in 2003, 70% of which came from imported drugs.

The market grew 19% in 2003 and annual growth is expected to continue around at least 10% per year for the next five years. This is driven by rising incomes and consumer spending, increased government funding for drugs through a new health insurance system (at present government purchases account for only about 30% of total spending), and increased efficiency in domestic distribution.

Russia ’s domestic drug manufacturing sector—there are some 350 companies operating—remains fragmented, under-capitalized and focused on production of generics. Variable quality of Russian medicines is also a major issue for the industry, and the government plans to impose internationally accepted “good manufacturing practices” (GMP) in 2005, while encouraging GMP adherence since 2000. Foreign medicines typically display GMP labels as a sign of their higher quality.

The pharmaceutical import and distribution sector is also fragmented. The top ten firms account for about 40% of imports, while some 65% of Russia’s pharmacies deal with 10 or more suppliers. Through bulk discounts large companies can offer greater product variety and lower prices, which has led to continuing consolidation.

The Russian pharmaceutical market offers good prospects for Western exporters of drugs, retail medical devices and food supplements. However, like with most successful exporters, a relationship with one of the country’s major distribution companies is recommended.

In 2004, the market of clinical trials in Russia was valued at: Potential - 300 million USD Actual - 40 million USD