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Russia Pharmaceuticals and Healthcare Report Q1 2010
Business Monitor International, Jan 2010, Pages: 93
The Russian Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Russia's pharmaceuticals and healthcare industry.
After a period of deep uncertainty, Russia’s pharmaceutical market is surging with new investment projects despite rising levels of government interference and a new import-substitution programme. One clear rationale for foreign companies to brave a potentially treacherous regulatory environment is the sheer continued growth potential of the market. BMI’s upgraded five-year forecast anticipates a sharp return to growth for the marketplace after a US dollar decline in 2009, with a five-year compound average growth rate (CAGR) of 18.13% in US dollar terms (13.98% in local currency terms) predicted for 2009- 2014 – an impressive figure even when the anticipated appreciation of the ruble is taken into account. At the same time, Russia’s pharmaceutical regulatory environment remains in flux. Significantly, the latest impetus for reform of registration procedures and market oversight is now being driven by the Federal Anti-Monopoly Service (FAS) which in November was reported to be in the midst of preparing new and comprehensive market legislation – a curious mix of streamlining and new restrictions. One of the FAS’s aims is to stamp out collusion and corruption in the wholesale sector. Most contentiously, it will also formulate new rules limiting the activity of medical representatives from drug companies. As part of the government’s drive to support and expand the domestic sector under its current Strategy for the Development of the Pharmaceutical Industry, it approved some 29 projects by local players in the healthcare sector. The projects include new production lines by Pharmstandart and Biokard (for oncology drugs). Binnofarm, a pharmaceutical subsidiary of conglomerate Sistema – until recently reported to be up for sale – will now open one of the country’s largest production facilities outside of Moscow to make haematological and oncological treatments as well as vaccines. Perhaps the largest project is the Pharmopolis project being spearheaded Russian Technologies, a huge and politically powerful state-owned technology holding. Meanwhile there have been rumours that Pharmstandart was seeking to acquire Valenta, another large domestic producer.
Foreign players do not want to be left behind in Russia’s market and – unlike in other Commonwealth of Independent States (CIS) markets with import substitution regimes, such as Belarus and Uzbekistan – they are now lining up major projects. Market leader Sanofi-Aventis, having snapped up a controlling stake in insulin maker Bioton Wostok from Poland’s Bioton and a local investor, has signed a memorandum of understanding with Russian Technologies to take part in the Pharmopolis project. Its market presence has been further bolstered by its takeover of Czech generics producer Zentiva, which had a substantial and growing presence in the Russian market. Switzerland’s Nycomed has reportedly selected a site in Yaroslavl Region for a new factory and insulin giant Novo Nordisk is said to be closing in on a site for a US$100mn facility. Meanwhile, Hungary’s Gedeon Richter has reported improving sales in the market, which has been a challenge for the company in the last few years. In all, the market is a mix of optimism and understanding that a local presence will greatly ease access as the regulatory environment continues to churn.
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