P-20: How Can Russia Join the List of Attractive Countries for Investment?

P-20: How Can Russia Join the List of Attractive Countries for Investment?

3 June, 08:30–09:45

Investment in advanced scientific research and pharmaceutical manufacturing could create an important stimulus for the development of the Russian economy. Worldwide, pharmaceutical companies are investing around USD 140 billion in R&D annually. In order to join the list of countries considered to be attractive from an investment point of view by the pharmaceutical industry (the Biopharmaceutical Competitiveness and Investment Survey), the following criteria must be fulfilled: a stable economy, favourable legislation and tax regulations, a high concentration of intellectual resources, a good medical and pharmaceutical education system, and a highly productive workforce. To date, Russia has yet to be ranked among the top 20 in the survey. What measures can be taken to enable Russia to join the list of the most attractive countries for pharmaceutical investment? How can the priorities of Russia’s Scientific and Technological Development Strategy be realized in the areas of high-tech healthcare and pharmaceuticals? What barriers need to be overcome in state regulation of the pharmaceuticals market in order to expand access to medicines and increase investment attractiveness? How can more effective outcomes from scientific research in Russia be achieved?


Key moments

The path of innovative development is the path which Russia should take.
Oksana Monzh
Regulation must lead to raising investment in the pharmaceutical and health sectors. Regulation must lead to an influx of innovations, innovative products and innovative approaches to medical treatment.
Vladimir Shipkov
Executive Director, Association of International Pharmaceutical Manufacturers (AIPM)
We have completely updated the regulatory framework over the last 2–3 years, from the manufacturing cycle to pharmacy practice.
Mikhail Murashko
Head, Federal Service on Surveillance in Healthcare
Ninety percent of the new drugs are coming from small companies and academia, and public hospitals. So in order to be a player on this field the first step would be to try to do clinical trials, translate you knowledge into new development and invest in technology transfer offices.
Eyal Mishani
Head, Cyclotron Radiochemistry Unit, Hadassah Hebrew University Hospital
In the Science and Technology Development Strategy, we focus on government support for breakthrough technologies because the system of education and science must not only respond to market challenges and provide the required specialists but also set trends.
Ludmila Ogorodova
Deputy Minister of Education and Science of the Russian Federation
We must not focus on the domestic market alone. […] The challenge for us as a regulatory body is to cooperate with international regulators in such a way that companies manufacturing goods or localizing their production have an opportunity to enter other markets. There will be no development without this.
Mikhail Murashko
Head, Federal Service on Surveillance in Healthcare
Attraction of investments into R&D and development of education and science means that we should be changing our view about education and science. It should not be a supporting part of the pharmaceutical industry. It must start making profits as an independent industry of knowledge.
Igor Narkevich
Rector, St. Petersburg State Chemical-Pharmaceutical Academy