Abbott Laboratories wanted to buy out its vaccine partner in Russia to better establish itself there. But the Russian government has not exactly thrown its arms open to Big Pharma and Abbott's hope has now been dashed on the hard wall of that reality.
Italy is the world's second largest producer of active pharmaceutical ingredients (APIs), trailing only China. It holds nearly a 30% share in the U.S., still the largest market for branded and generic APIs.
Few parts of the world are untouched by some drugmaker as companies of every stripe and size try to tap market growth where they can.
France's SpineGuard, a spine surgery device startup, won Russian regulatory approval to start marketing PediGuard, a hand-held, wireless tool designed to assist with pedicle screw placement during surgery.
Emerging markets have become the name of the growth game and Kazakhstan has a growing middle class and developing healthcare system that has caught the attention of some drugmakers who have plans to build new plants there.
Now that Russia is a member of the World Trade Organization, its government is starting to put some support to its position that drugmakers had better have Russian manufacturing capabilities if they want to sell to Russian consumers.
Russia is tightening the screws on foreign drugmakers. Already under orders to partner up with domestic companies and establish local production facilities, global pharma companies will now be squeezed out of state purchasing deals.
Emerging markets are now the major driver of growth in the pharmaceutical industry, but multinational pharma companies must tread carefully in order to navigate the local barriers and incentives to market access. Many governments in emerging markets are now making sure pharma companies "pay the toll" for reaping the benefits of their market growth. Read more >>
It's official: Russian conglomerate Sistema is government-approved to buy Veropharm, a fast-growing generics maker that's currently operating under the aegis of pharmacy retailer 36.6. According to RIA Novosti , Sistema could pay up to $326 million for 36.6's 51.8% stake in Veropharm.
Bayer HealthCare has struck a deal with a Russian drug manufacturer that will allow it to start producing products in a country that is considered one of the best bets for future growth.