Pharmaceutical Trade Unlikely To Develop Rapidly Without Assurances Of Quality

BMI View: While it is likely that the sale of Chinese-made pharmaceuticals in Russia will continue to increase in the coming years, we do not believe these producers offer the Russian market anything uniquely competitive. It is likely and advisable that Russia will prioritise pharmaceutical trade relations with more advanced trading countries, driven by the expectation that such partners will localise pharmaceutical production in Russia and provide the transfer of knowledge and skills pivotal to the development of the domestic Industry. Furthermore, we believe ventures with Indian drugmakers will be prioritised over Sino-Russia partnerships, as India can offer cheaper generic medicines, required for the market, but also ensure regulated, quality-assured products. The exception to this trend would be the establishment of new Chinese pharmaceutical facilities, backed by foreign capital and produced with good-manufacturing practice (GMP) certification. Unless China can offer assurances of the quality of its medicines, it is unlikely to become a major player in the Russia pharmaceutical market.

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