Share of Russian medicines in VED List has reached 84%

| By | Drug Manufacturing, VED Drugs

The share of domestically manufactured vital and essential drugs (VED) available on the Russian market has reached 84%, said the Russian Minister of Industry and Trade Denis Manturov. This is the highest figure ever recorded in the entire history of measurements. The growth is expected to continue this year up to 90% by the end of 2018. According to the experts, this will allow to further reduce the prices for vital and essential drugs.

In 2017, the share of domestically manufactured medicines in the VED List rose to 84%. Compared to 2016, it increased by 7.2 percentage points and hit a six-year record high. In 2012, only 63.5% of drugs manufactured in Russia both by local and foreign companies were included in the list.

The plans provide for bringing the share of domestically manufactured vital and essential drugs to 90% as early as by the end of 2018. The Russian Ministry of Industry and Trade said that they are “ahead of schedule” to reach this target.

Victor Dmitriev, the Head of the Association of Russian Pharmaceutical Manufacturers, said that the increase in the share was achieved, among other things, due to localization of manufacturing by foreign companies in Russia.

“This is good for the state. First, it provides new experience, new technology, and new jobs. Secondly, this increases the competition and, as a result, leads to lower prices in pharmacies. Such drugs are also less expensive for consumers because there are no costs associated with the logistics of individual packages. As for the quality, the domestically manufactured drugs are in no way inferior to imported products. Everything that arrives to legal sales chains passes the tests and certification of the Ministry of Health and is monitored by Roszdravnadzor,” said the expert.