BOSTON, September 16, 2014 /PRNewswire/ --
Russia's pharmaceutical market has been growing faster over recent years. The Pharma 2020 Strategy provides incentives for local producers to develop original and generic drugs for both domestic and foreign markets. These trends, however, were affected by recent developments connected with the political situation and the following political and economic sanctions imposed on Russia.
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Russia responded to the US and EU sanctions by banning imports of certain products from a number of countries, which made experts concerned about potential effects on the healthcare industry, such as embargo on import of foreign medical supplies, at least for products that have generic alternatives made in Russia.
Smooth Drug Development, a Contract Research Organization with headquarters in St Petersburg, Russia, and offices in other CIS countries (Belarus, Kazakhstan, and Armenia), maintains a continuous dialogue with Russian and leading international stakeholders in the pharmaceutical and biotechnology industries. Smooth Drug Development has been receiving requests to organize and conduct clinical studies in Russia from various pharmaceutical and biotechnology companies, sanctions notwithstanding. Russia and CIS is an attractive market for clinical studies. There has been no decrease in demand for clinical research since the sanctions were imposed.
As a team of professionals including scientists, medical doctors, project and quality assurance managers, and many other experts, that deals with processing of clinical data and research on a daily basis, we are optimistic about the current situation. At Smooth Drug Development, we strongly believe that no severe sanctions shall be placed upon the healthcare industry, which is essential for the nation's health and welfare.
The reasons for that are as follows. First, not all the drugs that we import are available in a generic version in the domestic market. Second, the Russian pharmaceutical market is too large to be served solely by domestic manufacturers. Third, an embargo on foreign drugs would weaken internal competition and diminish the quality of medical supplies in general. Last but not least, collaboration with overseas manufacturers enables access by the Russian domestic market to additional research and practice-based knowledge, scientific exchange, and better public health.
Company website: http://smoothdd.com/en/
Contacts
John Gross
International PR Manager
Smooth Drug Development
[email protected]
SOURCE Smooth Drug Development
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