CPhI Russia @ IPhEB sees the emergence of regional manufacturers
Russia market seen as key gateway to CIS economies thanks to harmonisation
CPhI Russia @ IPhEB, organised by UBM EMEA and RESTEC, reports a record number of attendees at its third successive event in Moscow, including more than 3,000 attendees from 60+ countries and more than 230 exhibitors from 30+ countries. A key trend to emerge from the event was rising investment opportunities in the domestic market, with international companies looking to partner with or acquire local facilities.
This influx of foreign interest is a direct result of the Russian Drug Authority’s declaration to have 80% of the total pharmaceutical market supplied through local manufacturing sites by 2020. This is consequently generating greater investment into domestic facilities both from overseas companies and domestic investors.
Another emerging dynamic from the show is a gradual shift towards increased pharma partnerships and acquisitions as foreign manufacturers look not only to drive business from within Russia, but also to utilise this thriving market as a gateway to nearby CIS economies. Highlighting the internationalisation of the Russian pharma market, CPhI Russia @ IPhEB hosted more than 800 meetings with senior executives, many between transnational tharma companies and regional suppliers.
Supporting these findings, the major focus throughout the Conference Forum was the increased harmonisation witnessed between Eurasian economies. The result is that as requirements for product registration and clinical trials become more standardised across neighbouring regions, Russia becomes increasingly appealing for nearby trade opportunities.
'Moving CPhI Russia @ IPhEB to the nation’s capital was a great step in the continued evolution of our event portfolio. This was only the third consecutive year for CPhI Russia @ IPhEB and we have already seen impressive growth,' said Erik Heemskerk, Brand Director Pharma at UBM EMEA.
'The increased harmonisation between CIS regions has highlighted Russia as a major target area for growth and we can expect many more partnerships to form between foreign and domestic companies. CPhI Russia @ IPhEB is the first meeting point for many of these and is therefore essential for regional growth.
'We look forward to returning for next year’s event to provide an even greater edition.'