Russia’s expenditures on pharmaceutical products ranked first among the CIS-countries

12 august 2014 | RIA AMI

The countries of the Eurasian Economic Union are planning to create common markets for goods and services. One of the first will be the market of pharmaceutical products, that should become operational in 1 January, 2016.

Gleb Pokatovich
Gleb Pokatovich
Deputy Director General

Russian Agency for Medical and Social Information, referring to the Deputy Director General of the Analytical Center Gleb Pokatovich, writes that at the end of the 2012-2013 Russian expenditures on pharmaceuticals per capita rank first among the CIS-countries, Belarus - the second, and Kazakhstan - the fourth. Russia also dominates in terms of the market volume.

At the same time, according to the expert, the pharmaceutical market in all three countries shows strong pace of growth. “This pattern, in my opinion, for the foreseeable future simply cannot be exhausted, given the possibilities that a single market can provide”, - said Mr. Pokatovich.

The expert noted that currently the volume of mutual trade of pharmaceutical products in Russia, Belarus and Kazakhstan is not too large. “But now, after signing the agreement on the establishment of the Eurasian Economic Union, a quite awesome platform is forming that will allow to take advantage of our common heritage and those achievements that each country has reached for two and a half decades since the collapse of the Soviet Union, ,” - he believes.

According to Mr. Pokatovich, another growth factor for this market will provide uniform rules for the production and licensing, as well as the purchase of medicines.