Russian government to implement a massive reform in domestic pharma industry

The Russian government is considering implementing a massive reform in the domestic pharmaceutical industry in the coming years. The government plans to create conditions for the establishment of a new industry, which will be attractive for investments and could produce competitive, safe and affordable products for the local population.

Vladimir Putin, Russia’s Prime Minister, said that, by 2020, the domestic pharmaceutical production should fully meet the needs of the country in pharmaceutical products and medical devices. “By 2020, Russia should produce up to 90% of drugs, which are included in the list of vital and essential drugs, while the share of medical equipment domestic production is expected to rise up to 50%,” Mr Putin said.

In addition, according to the PM, Russia should seriously strengthen its position in the global pharmaceutical market through the increase of exports of its pharmaceutical products by eight-fold during the next 10 years.