Priming Russia’s Pharma Industry For Innovation
The Russian government’s aggressive plan to modernize the country’s pharmaceutical industry is stimulating entrepreneurial activities, as well as a flurry of deal activity between local and foreign companies. Many uncertainties remain about the potential opportunities, however, as foreign companies try to sort out changing regulatory and business dynamics.
You may also be interested in...
The global pharmaceutical industry is facing decreasing margins triggered by various internal and external reasons. To address the crisis effectively long term, we see pharma’s integration into care management, combined with data generation and analysis of real-world outcomes, as a way to charge for the value pharma adds.
In 2007, the Russian government committed $10 billion to invest in nanotechnology. About half of that has been invested, with little to show for it so far. After a recent shake-up, Rusnano is looking to prove itself and attract the private investors that could allow it eventually to privatize.
In recent years, Russia has adopted IP reforms that bring its patent provisions closer to international standards, but enforcement remains problematic, as are dispute proceedings, in part because there’s a lack of trained judicial experts.