Geropharm plans to hold 50% of Russia’s insulin market in 2022

MOSCOW, Jul 9 (PRIME) -- Russian full-cycle producer of insulin Geropharm plans to expand its share at the country’s insulin market to 50% in physical terms in 2022 from the current share of 12%, CEO Pyotr Rodionov told PRIME on Tuesday.

“We are focusing on insulin now. We have set the target of at least 50% of the Russian insulin market at the end of 2021. In addition to that, we see large potential for exports, and we invest in creation of medical products in the sphere of diabetes, which would allow us to raise competitiveness of our products on the global market,” he said.

A company representative said according to international researcher IQVIA, Geropharm’s share of the Russian market of insulin stands at more than 12% in physical terms in January–April 2019. The company’s share at the market of genetically engineered types of insulin stood at 32%.

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