Over 60% of Russia's Pharmaceutical Market Comprises Innovative Medicines
Innovative Russian medicines account for over 60% of market — minister
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Russian Industry and Trade Minister Anton Alikhanov announced that innovative drugs make up over 60% of the domestic pharmaceutical market by units, but only about 20% by value. He emphasized the need to boost the production of high-profit innovative medicines and mentioned upcoming support measures for drug registration.
- 01Innovative drugs represent over 60% of the Russian pharmaceutical market in terms of units.
- 02By value, innovative drugs account for just over 20% of the market.
- 03The minister highlighted the importance of increasing the share of high-profit innovative drugs.
- 04International companies currently set prices for innovative drugs due to limited alternatives.
- 05The ministry is preparing support measures for companies registering first-in-class drugs.
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During a press briefing in Podolsk on May 21, Russian Industry and Trade Minister Anton Alikhanov revealed that innovative medicines constitute over 60% of the domestic pharmaceutical market based on units sold. However, this figure drops to just over 20% when measured by market value. Alikhanov stressed the necessity of enhancing the production of highly profitable innovative drugs, which are often priced at the discretion of international companies due to a lack of alternatives in the market. He also indicated that the ministry is developing support measures aimed at companies that are registering drugs that meet first-in-class requirements, underscoring a commitment to stimulate innovation in Russia's pharmaceutical sector.
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The emphasis on innovative drugs could lead to increased competition and potentially lower prices for consumers in Russia.
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