Russian experts forecast an increase in prices for imported drugs by 5-20%

| By | Drug Import, Medicinal Drug Prices
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In the first five months of 2017, the costs of importers on purchasing drugs abroad increased by 11% compared to the same period of last year. However, in terms of physical volumes, the imports of foreign-made medicinal products grew by only 4%. This is demonstrated by the data from the Federal Customs Service. The representatives of pharmaceutical industry forecast that the retail will feel the changes as early as this fall, as the prices in pharmacies may increase by 5-20%.

According to the Federal Customs Service, the highest earnings from exports of drugs to Russia were made by European countries, such as Germany ($801.5 million), France ($371.5 million), Italy ($254.8 million), and UK ($232.9 million). India ($227 million) comes the last in top five in terms of revenue. When comparing the deliveries in the first five months of 2017 and 2016, it should be noted that the UK made the most significant gains in terms of earnings from exports of pharmaceutical products to Russia.

According to Elena Nevolina, the head of Pharmacy Guild, a pharmaceutical organization, the prices for some medicines may increase as early as this fall. First of all, the increase will affect the so-called “seasonal drugs.” On average, the increase will vary from 5% to 20%, forecasts Elena Nevolina.

Yuri Krestinsky, the Director of the Institute of Public Health Development, said that prices for vital and essential drugs are regulated by the state and, therefore, no price fluctuation would be observed in this category.