Russia and BRICS countries will oppose the transnational pharmaceutical companies

| By | BRICS, FAS Russia, Medicinal Drug Prices
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2029

Russia, together with other BRICS countries, will take measures against transnational drug manufacturers involved in bribing the doctors and selling expired medicines, and it will expel them from the country, said the Head of the Federal Antimonopoly Service (FAS) Igor Artemyev.

“We reduced the prices of more than 400 drugs by an average of 30% with a strict system of antimonopoly control over the registration of drugs. But this does not eliminate bad practices (used by international companies), such as bribing the doctors and pharmacists. They come here and do things that they have not been doing in their own countries for a long time,” said the head of the agency.

He said that discussions and meetings will be held at the executive level of transnational companies, and all five BRICS countries will declare that such practices as overstating the prices on certain items, bribing the doctors, and selling expired drugs, are unacceptable.

At the same time, he said that the FAS will monitor the situation so that the drugs manufactured by a single company engaged in bad practices do not disappear from the market.

“We proposed a so-called “compulsory patent system,” when the government can transfer the right for production of specific chemical formula to its national company by paying a fair compensation to the original manufacturer that can challenge it in court,” said Mr. Artemyev.