Outsourcing.Pharma.com reports that Vladimir Putin has charged Russian drug manuafacturers to raise their game. He warned that foreign nationals control too much of the Russian drug market at more than 80%. He's challenging Russia's 160+ manufacturing firms to increase their share of the market to 50% of all drugs and 90% of all vital medicines by 2020.
The Russian government is prepared to invest $3.9 B to support novel engineering technologies for Russian plants - while calling on producers to make further investments that are need to modernize. Thos that do not invest will be restricted in the Russian market - particularly those neglecting to increase production or technology transfer activities. Russia will also adopt GMP manufacturing standards in 2014 to get it in better position to compete in international regulated markets.
“In essence we will need to ensure that manufacturing technology and infrastructure in Russia measure up to the standards used in the most advanced production facilities in Europe and the US”, said Russian industry minister Viktor Khristenko.
Frost & Sullivan predicted that the Russian drug market will grow from %15.3 B in 2009 to more than $37.1 B in 2016 - thus helping to explain why Big Pharma investors Nycomed, Novo Nordisk and AstraZeneca have announced plans to invest in the country too.
Posted by Bruce Lehr December 14th 2010.
The Pharma letter reports that Russian government is considering massive reform to remake its domestic drug industry and to draw foreign investment
http://www.thepharmaletter.com/file/101275/russian-government-to-implement-a-massive-reform-in-domestic-pharma-industry.html
Posted by: bigredbruce | 01/14/2011 at 10:20 AM