“Russian pharmaceutical industry is ready for the cooperation of Indian producers,” said Director General of the Association of the Russian Pharmaceutical Manufacturers, Victor Dmitriev at the India-Russian pharmaceutical forum “Meeting of the Russian and Indian pharmaceutical companies”.
“We know and understand Indian medicines all the way from the times of the Soviet Union. The industry is constantly developing. It is constantly developing and we see Indian marines in Russian pharmacies. We also see mutually beneficial investments in the industry. PharmEco one its R&D facility in India. Lupin purchased a production facility in Stavropol region,” said Mr. Dmitirev.
The value of the pharmaceutical market is $27 billion, and it is one of the top 10 world pharmaceutical markets. That makes Russian market attractive for both small and large businesses. State budget programs are account for a third of the market. That makes it even more attractive for Indian business considering that the new Russian legislation gives preferences to those foreign companies that produce in Russia. However, this company that want to enter the Russian market have to be ready for GMP inspection.
A representative of the Indian Embassy in Russia, Mr. Balasubramanian noted that the relations between the two countries have been tested over a period of time. Both countries invested in each other’s pharmaceutical markets. India is a third pharmaceutical producer in the world. 10% of the world’s generic medicines are produced in India. Indian producers are always ready to support Russia in the production of high-quality and affordable medicines. The Indian Government and the Embassy in Moscow are ready to support the operation between the two countries.