According to the results of 2017, the authorities of St. Petersburg forecast the growth in exports of pharmaceuticals manufactured by the enterprises of the city cluster.
“2017 became a breakthrough year for the exports of pharmaceutical products, and we expect a growth of 20-25%,” said Maxim Meyksin, the Chairman of Committee on Industrial Policy and Innovation of St. Petersburg.
He added that, in 2016, the export-related sales made by enterprises of St. Petersburg pharmaceutical cluster amounted to more than 1.7 billion rubles. The products were supplied to Azerbaijan, Belarus, Moldova, Ukraine, Morocco, Laos, and other countries both within and outside CIS.
The budget of St. Petersburg provides for subsidies to reimburse some of the costs incurred by industrial companies when promoting their products in international exhibitions and fairs.
Overall, the pharmaceutical industry in the city demonstrates a dynamic growth.
“The value of products shipped in H1 2017 was 13 billion rubles, while for the entire 2016, the value of shipped products was 25 billion rubles,” said Mr. Meyksin.
According to the experts, in 2017, the share of St. Petersburg-based enterprises in the Russian pharmaceutical market could reach 10-12%; while the last year it was 6%. In 2018, the output is also expected to increase by 20%.