Big pharma may invest billion euros in Russia in coming years
According to the AIPM, these are only initial investments, which may significantly increase at the next stages of the companies’ development in Russia. "We have confirmed our statements by realization of concrete projects. I assure you that other companies are close to announcing their plans to support local production," Vladimir Shipkov, head of the AIPM, told a press briefing.
A recent report from Frost & Sullivan noted that, with total revenues of $15.3 billion in 2009, the Russian pharmaceutical market is one of the largest in the world. The market is anticipated to remain on a path of dynamic growth from 2010 to 2016 mainly due to multiple initiatives of the Russian Government. It estimates the Russian pharmaceutical marker will reach a value of $37.15 billion in 2016.
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