Special Investment Contract will bring the investments to pharmaceutical industry

| By | Drug Marking, Investments, Pharmaceutical Industry

On February 8, Victor Dmitriev, Director General of Association of the Russian pharmaceutical manufacturers addressed at the meeting of the Health Care Committee hosted by the Franco-Russian Chamber of Commerce and Industry.

A thaw in relations between Russia and America, that has recently become a real prospect, will influence pharmaceutical market as well: according to Victor Dmitriev, the Abbott Company that has already localized in Russia is just the first shot. The flow of American investments into the industry will keep growing and creating tough competition for European investors, supposed the speaker.

ARPF members deem the mandatory licensing of pharmaceuticals, draft law initiated by Federal Antimonopoly Service of the Russian Federation to be essential measure, which requires strongly regulated approach.

“We must exclude any critical situation and clearly stipulate the following provisions in the law: which particular cases assume application of mandatory licensing of pharmaceuticals, what reimbursement the patent holder is due to and what are the criteria for choosing a company that makes products as per mandatory license,” considers Victor Dmitriev.

Besides, the speaker told about the results of a meeting held at Minpromtorg regarding the issue of special investment contracts.

“Special Investment Contract is an arrangement leading the investments to pharmaceutical industry. Beneficial tax treatment for a certain period is the only thing it guarantees by 100 %. Local status of a drug is an essential matter for many companies that come to Russia. ARPF is ready to support the idea of “local status” assignment as soon as SPIC is signed, if it covers an innovative drug that comes to Russia and is not produced here. However, we strongly object if it is about another generic drug which is already being produced in Russia. We have already got a quite number of localized investors-manufacturers of generic drugs, so it does not make sense to welcome a new competitor for them on privileged conditions,” clarified Victor Dmitriev.