Foreign investments in the Russian pharmaceutical industry exceeded 1 billion euros

| By | Investments, Pharmaceutical Industry

Dmitry Kurochkin, Vice-President of the Chamber of Commerce and Industry of the Russian Federation, said that, over the past few years, the Russian pharmaceutical industry showed a steady growth and is a leader compared to the other industries. The year-over-year growth consistently remains above 10%. For example, in 2016, the pharmaceutical industry grew by almost 24%. For 2016, the output of medicinal products reached 285.87 billion rubles. 77% of vital and essential drugs are already produced in Russia.

There was a notable effect resulting from state support measures, such as subsidizing loans and providing loans from the Industrial Development Fund. In 2015-2017, the Fund approved 26 projects in the area of Medicine, Biotech and Pharmaceuticals.

All this makes the pharmaceutical industry attractive for investors. In the past 5 years, the industry attracted over 120 billion rubles of private foreign and Russian investments.

Foreign investments in the Russian pharmaceutical industry reached more than 1 billion euros. Many international companies, including Takeda, Astra Zeneca, Novo Nordisk, Teva, Novartis, Sanofi-Aventis, Abbott, Krka, Serdix, Gedeon Richter, and Stada, have built their plants in Russia.