Russia Lining Up with Major Biotech Industry Players
USAgNet - 06/20/2012
The Ministry of Industry and Trade of the Russian Federation leads the Russian delegation at BIO 2012 and is presenting a joint exposition of top-level Russian biotech players, government and investment bodies.
On the state level Russia is providing a significant investment of €4.5 billion up to 2020 through a Targeted Investment Program to boost its healthcare industry with the aim of creating state of the art production facilities, launching innovative medicines and increasing exports.
A breakthrough in the biotech and pharmaceutical industries is of primary importance to Healthcare Sector Development and it has been declared a top state priority. The Pharma 2020 Strategy aims to completely modernize the pharmaceutical industry in Russia.
Partnership with international companies, as well as investment projects of Big Pharma into Russia are one of the key elements of the strategy.
"Russia is committed to building its biotech industry by forming partnerships with the leading world players. We aim to boost domestic production of generics and innovative pharmaceuticals through a major program of co-licensing and investment in first-class infrastructure and education programs. Cooperation
with international leaders in drug discovery and development is essential if we are to transform the Russian biotech industry," said Denis Manturov, Minister of Industry and Trade.