Foreign investors ready for further expansion in Russia

Foreign companies will continue to invest in the Russian pharmaceutical market during the next several years, despite the difficult situation in the local economy, according to recent statements of some global drugmakers operating in Russia, reports The Pharma Letter’s local correspondent.

According to Vladimir Shipkov, head of the Association of International Pharmaceutical Manufacturers in Russia, to date, global pharmaceutical producers have already invested about $2 billion in the localization of production in Russia and there is a possibility that this figure will significantly increase during the next several years.

According to Mr Shipkov, an example of this is the launch of the full cycle production of drugs by Novartis at its recently commissioned plant in St Petersburg.