Russia is a country with big potential, and the pharma industry is no exception. The Russian government has decided to remove obstacles to development in the government healthcare sector and to create a strategy to improve it.
Russia 2020 is a development strategy by the the government of the Russian Federation for the period from 2009 to 2020. The initial budget of the program is 177,620 million RUB.
The strategy’s goals are to:
• Increase the level of prosperity of the population.
• Support the healthcare system with all essential and vital drugs produced domestically, with the aim of reaching the local industry’s share of total drug sales to 50%, including medications for rare diseases.
• Increase the competitiveness of the domestic pharma industry through the harmonization of Russian standards with international standards.
• Support the development and production of innovative drugs.
• Increase the export of Russian drugs, thus increasing the share of Russian products on the international market.
• Protect the internal market from unfair competition and level the playing field for foreign and domestic companies entering the Russian market.
• Develop technology in the pharma industry in Russia.
• Develop the quality certification process as well as increase quality control for drugs. In addition, to simplify the registration process by erasing superfluous administrative milestones.
• Improve specialists’ preparation for the pharma industry and create new educational programs according to the international standards.
Amongst others, the implementation of Russia’s Pharma strategy allows international companies easier market entries into the prosperous and ever-growing Pharma and Consumer Health markets of Russia.
OTC and Pharma Acquisition Targets: Systematic VC
Get The Important Insights! 2021 was a record year for venture financing in the OTC, pharma and medical device industry, with US$86 billion invested...
What are the FDA Regulations for Food Supplements in the USA?
Get The Important Insights!Despite the abundant number of players, there is still a way to dive into the US’ gigantic market. You can start by...
WEBINAR: How to receive EU GMP and enter EU Rx, OTC drugs and MD market?
Get The Important Insights!The European Rx & OTC market is expected to maintain its dominant position in the global healthcare markets until...