European Firms Maintain Growth In Rapidly Developing Market

BMI View: European drugmakers continue to dominate Russia's pharmaceutical market. While there is evidence that US firms have been increasing their involvement and focus in the country, market share for US firms is poor. US drugmakers must do more to penetrate this rapidly developing market and should follow European drugmakers in their drive to establish local production capacity and work with local manufacturers. The extension of the Russian essential medicine list for 2012, which included new and innovative medicines, has encouraged BMI to improve our qualitative and quantitative assessment of the country's reimbursement and funding policy. This is a significant component of BMI's Pharmaceuticals & Healthcare Business Environment Ratings.

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