In a major development, the Russian media has reported that in the year 2023, India became Russia’s largest pharmaceutical supplier filling the gap left by the formerly dominating Western companies This was said based on the data compiled by RNC Pharma.
The boom in international pharmaceutical exports has displaced Germany, Russia’s top supplier in 2021 and 2022. Berlin plunged its supplies to Russia about 20 percent last year to 238.7 million packages Meanwhile the Indian manufacturers increased their exports by 3 percent last year delivering about 294 million packages of pharmaceuticals to Russia.
The steps taken by the Western pharmaceutical business in response to the Ukraine conflict have contributed the shift in pharmaceutical supply dynamics towards Russia. Several of these firms have suspended non-essential operations and investments in Russia. Furthermore, major international pharmaceutical companies including Eli Lily, Bayer, Pfizer, MSD, Novartis have halted new clinical studies in the country.
Meanwhile, the Indian pharmaceutical companies are expanding their business prospects including joint ventures a media agency reported. “Other key supplying countries include France, from where 149.3 million packages were imported to the Russian market, Hungary (112.5 million packages 11.6 percent more than earlier year) and Belarus.
The latter increased supplies by 6.9 percent to 109.8 million packages. The decline among large suppliers of drugs to Russia occurred in the UK by (10.5 percent to 63.2 million) and Poland (by 16.5 percent to 60.9 million) Among the countries that began deliveries to Russia for the first time in the year is the UAE and from which 35.7 thousand packages were imported, Armenia (1.6 thousand) and Cuba (1.5 thousand) the RBK article reads.
According to the RNC Pharma, in the year 2023, Israel’s Teva exported 149.8 million packages to Russia eleven percent more than a year earlier. In second place comes India’s Dr Reddy’s which increased supplies by 12 percent to 110.1 million packages of drugs.
As per the data from the RNC Mumbai based Oxford Laboratories increased its supplies to Russia by 67 percent in 2023, reaching 4.8 million packages. Its portfolio includes cardiovascular, erectile dysfunction ophthalmology and other medications. Ipca Laboratories, another significant Indian pharmaceutical drug that was previously solely manufactured by the patent holder increased its exports by 58 percent last year, reaching 13.7 million packages.
