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Russia Looks To Fast-Track Pharma Products Entering From Japan

By Vusala Abbasova April 2, 2018

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A ‘green corridor’ will allow Japanese companies to export goods to Russia without having to file exhaustive paperwork, provide samples or specimens.

Russia is looking into ways for Japanese pharmaceutical companies to have their products imported, particularly pharmaceutical drugs and medical equipment, without having to go through lengthy customs inspections.

A ‘green corridor’ will allow Japanese companies to export goods to Russia without having to file exhaustive paperwork, provide samples or specimens.

"We have suggested that the so-called green corridor be created for pharmaceutical companies, as we want to ease the access to the Russian market for Japanese companies," Russian Deputy Prime Minister Olga Golodets said ahead of a meeting with Japan’s Minister of Economy, Trade and Industry Hiroshige Seko in Osaka on March 24.

Japan’s pharmaceutical market ranks third globally, thanks to the government’s strategy of reward innovation and almost no delays in new drug introductions. These policies have made the country one of the most attractive markets for pharmaceutical investments.

Although Russia is considered the largest pharmaceutical market in Central and Eastern Europe and ranked 14th in the world in terms of size, the country’s pharma market remains import-driven, outpacing exports by 14 times. More than 80 percent of Russia’s medical products are imported from countries such as Germany and France, according to Deloitte’s CIS’s “Russian Pharmaceutical Market Trends in 2017” research project.

At the same time, Russia’s pharmaceutical market is considered one of the world’s fastest growing. According to the GlobalData report, it is expected to rise from $20.91 billion in 2016 to $38.56 billion by 2021, in part due to measures introduced by Moscow meant to boost the domestic pharma industry. In comparison, the U.S.' pharma market was valued at around $446 billion in 2016.

With a population of over 144 million, the Kremlin sees the development of the domestic pharma industry as important to the development of Russia’s economy. In 2015, the Federal Drug Reimbursement Program was introduced, which ensures uniform and free access to over 350 drugs for the most vulnerable social groups. In addition, the Russian Ministry of Industry and Trade implemented a state-structured program, meant to help in the development of domestic medicine production, medical devices and improving state regulations.

Russia’s leading pharmaceutical company, Pharmstandard, is a local producer and marketer of a range of advanced, high-quality, affordable medicines. More than 100 products offered by Pharmstandard are included in the List of Vital and Essential Pharmaceuticals.