Russia to give more support to pharm firms in imports substitution

MOSCOW, Apr 10 (PRIME) -- The Russian government plans to provide additional support to the pharmaceutical companies engaged in imports substitution, Prime Minister Mikhail Mishustin said on Monday during a meeting with his deputies.

“As per president’s order, the government will provide additional support to our pharmaceutical producers. They will be able to receive state subsidies for development and registration of national medicines whose analogues are under the effect of foreign patents,” he said.

“Financing of these innovative projects will range from 50 million rubles to 100 million rubles. Only companies with enough competences will be able to participate. The money will be spent to buy equipment and pay wages to the employees who will be directly engaged in drug substitution.”

This decision should ensure a swift start of Russia’s own production of a medicine after its foreign patent expires, he said.

(82.3988 rubles – U.S. $1)

End