Pharma

Health is important:
Foreign recipes imported or localized

For you in Russia!

 

Do you have any questions regarding the pharmaceutical industry in Russia? We would be pleased to support you with our expertise and knowledge.

The Russian pharmaceutical industry is one of the sectors of the Russian economy, which offers great potential to Western investors on the one hand, but on the other hand can only be accessed by foreigners in an extremely difficult way. Industry-specific know-how and knowledge of legal regulations are therefore decisive factors for successful business activities in this area.

The Russian pharmaceutical industry in particular has made special demands on foreign companies since the introduction of the "Pharma2020" programme. The Russian government has made it its top priority to make Russia independent of imports of foreign pharmaceutical products. Accordingly, the importation of numerous foreign medicines is prohibited and thus considerably hinders access to the Russian market for foreign companies. This applies in particular to preparations classified as "life-sustaining", 90% of which should be produced locally by 2020. However, the share of other medicines is also expected to be produced to a large extent within national borders, which presents foreign manufacturers with new challenges.

As in many other industries and sectors of the Russian economy, companies that are active in the pharmaceutical industry and do not want to lose their large sales market to local competitors need to localize. Either in the form of its own subsidiary and in-house production facilities in the country, or through contract manufacturing partnerships with Russian companies.

With the knowledge that we have gained within the last few years through intensive cooperation with our customers in the pharmaceutical industry, we are happy to support you and your company to gain a foothold in the Russian market or to further expand your business activities and thus to profit from the manifold opportunities of the Russian market in the future.

Do you have any questions regarding the pharma industry in Russia? Do not hesitate and contact us. Please feel free to send us an e-mail, give us a call or make an appointment at one of our offices in Moscow, St. Petersburg or Vienna.

Further information on the pharmaceutical industry in Russia as well as numerous other topics related to the Russian economy can be found in the publications section or on our Russia Economy blog.

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Business Set-Up, accounting and reporting in Russia

Ausserer & Consultants is an international tax and accounting company based in Moscow, St. Petersburg and Vienna. Since our foundation in 2012, we have made it our mission to support small and medium-sized companies in local accounting including tax returns, reporting, business Set-Up and expansion in Russia. We also advise on individual questions regarding the Russian market and support our clients at all times.