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Article Source: ReutersGlobal drugmakers are set to pour over a billion dollars into Russian manufacturing in a bid to win the status of local producers and sidestep a tougher government stance on imported medicines.
Pacy emerging market growth is key to corporate top lines as Western market sales slow and many leading drugs lose patent protection, and the prospect of preferential treatment from a protectionist Russian state is set to drive investment there.
Russia, with a 140-million population, is expected to see mid-double-digit percentage growth in its pharmaceutical market in 2010, according to industry analysts, against a projection of 4-6 percent rate for the global industry.
Acquiring 'local player' status, through building or buying facilities in the country, is a way for global firms to tap into the country's strong growth prospects, even as the government looks to cut down on imports, industry sources said.
"Global pharmaceutical market players are investing increasingly in various types of localisation," Vladimir Shipkov, executive director of the Association of International Pharmaceutical Manufacturers in Russia (AIPM), said.
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#1 - Fri Jun 18, 2010 12:46 PM EDTPharmexpert forecasts the Russian pharmaceutical market to exceed $60 billion by 2020, assuming it keeps growing by 15 percent, while the possible introduction of the medical insurance system could take this figure to $80-90 billion.
"The emergence of a new segment will give a significant boost to market development. Additional market growth at a pace of 18-20 percent in terms of money is possible here, with an 8-10 percent growth in packaging," marketing agency DSM said.
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