Pharmaceutical Production Down In 2009

Russia's pharmaceutical manufacturing industry was hit hard during 2009, with production amounting to only 91.7% of 2008 levels, according to data released by the Ministry of Industry and Trade of the Russian Federation (Minpromtorg). These figures reflect difficulties associated with raw materials becoming more expensive due to ruble devaluation, general financial difficulties for some firms and, though only to a small extent, contained expenditure - although we note strong growth prevailed for pharmaceutical sales in ruble terms during 2009. Despite negative full-year results, BMI believes the Russian industry will regain positive momentum during 2010, followed by a strong upturn from

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