Investments in Russian medical industry reached 50 billion rubles

| By | Drug Manufacturing, Investments

In the last 3 years, amid a generally growing market, the Russian pharmaceutical and medical industry not only maintained but also increased its share in manufacturing.

The task set for 2018 is to bring percent of the Russian-made medicines in the List of Vital & Essential Drugs (VED) to 90%. The industry will be able to meet this task, said the Deputy Minister. The Russian manufacturers actively register new medicinal products; 14 import-substituting drugs included in the List of VED were registered in 2016 alone.

The Ministry also provided an optimistic forecast on achieving a 40% market share for Russian-made medical products in 2020. Our confidence is based on positive trends observed in the past few years, said Sergey Tsyb.

“Over the past 5 years, the total investments in the medical industry has reached more than 50 billion rubles, of which only 18 billion rubles came from the state, while the rest are private funds invested in modernization, technological re-equipment, technology transfer, capacity expansion, and creation of new production facilities,” said Deputy Minister of Industry and Trade of the Russian Federation Sergey Tsyb. “In 2016, 4 new major production sites were opened in the medical industry. This shows the high demand for tools prepared to support the enterprises.”