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HomeLatest NewsRussian pharmaceutical industry can expand supplies to BRICS countries - Rossiyskaya Gazeta

Russian pharmaceutical industry can expand supplies to BRICS countries – Rossiyskaya Gazeta

Date: June 22, 2024 Time: 10:22:27

In his words, the import substitution policy in the pharmaceutical industry has already made it possible to form an important productive base.

“Thanks to this base, generic and original medicines are produced in our country. Russian pharmaceutical companies have significantly expanded their capabilities, increased production and acquired the necessary competencies. Today Russian products are supplied to more than 150 countries around the world. The demand for them continues to grow steadily, including from the BRICS countries,” Priezzheva said.

However, a serious imbalance persists in this area. Thus, in 2023 supplies of Russian pharmaceutical products to the BRICS countries amounted to more than 15 million dollars. Pharmaceutical products worth almost $800 million, or 53 times more, were imported into the Russian Federation from the BRICS countries. By 2030, Russia plans to increase its export supplies by at least 2.5 times. For this, Russian science and production have the necessary competencies, Priezzheva is sure.

In addition to mutual trade, it is necessary to develop cooperation in the development and production of medicines and medical products in the BRICS countries, said the deputy director of the Ministry of Industry and Trade. To do this, it is necessary to clearly understand the needs of countries for this or that product, which is impossible without a constant exchange of information. The platform for such an exchange could become the association of regulators of the BRICS countries, which was previously announced by the head of the Ministry of Health, Mikhail Murashko, at the SPIEF. Among the priority areas of cooperation, Priezzheva highlighted the development and production of biotechnological drugs, including those derived from human blood plasma, as well as gene therapy.

“For the implementation of such projects, the Ministry of Industry and Trade offers a wide range of government support measures; we very much welcome the transfer of technology to the Russian Federation,” said the Deputy Minister. These instruments, including a special investment contract, aim to stimulate the production and development of innovative products.

Finally, another important issue for BRICS countries in the pharmaceutical sector is the removal of regulatory barriers to bring innovative medicines to the market. “First of all, I mean the possibility of establishing common approaches in the field of production practices, and we could also work together in terms of registration procedures,” said Ekaterina Priezzheva. We are talking, among other things, about mutual recognition of certificates, which can strengthen the trust of countries in each other in the medical field and will make it possible to actively present medical products from the BRICS countries in the markets of the countries that are members of the association.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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