upharmacia - october 2016

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issUe: 10 2016

Ukrainian PharmaceUtical market monthly: OctOber 2016

2015 2016Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

MACROECONOMIC INDICATORS Q4 Q1 Q2 Q3

GDP (US$ bn) 25.588 17.655 21.053

growth, % y-o-y -17% 0.1% -0.02%

Export of Goods (US$ bn) 3.35 3.23 3.13 3.36 2.04 3.08 2.99 3.10 2.88 2.93 2.92 3.18 3.16growth, % y-o-y -22% -23% -21% -11% -31% 3% -13% 1% -2% -5% -7% 3% -6%

Import of Goods (US$ bn) 3.24 3.22 3.07 3.12 2.23 2.68 3.35 3.05 2.69 2.87 3.09 3.45 3.48growth, % y-o-y -30% - 27% -27% -32% -26% -6% 5% 7% 2% 4% 4% -11% 8%

Industrial Production Sales (US$ bn) 5.72 6.29 5.92 6.37 4.93 4.93 5.41 5.17 5.39 5.44 5.61 5.57 5.62growth, % y-o-y -20% -21% -19% -17% -18% 8% -2% -12% -5% -6% -2% 3% -2%

Retail Turnover of Enterprises (US$ bn) 1.86 2.04 1.80 2.01 1.60 1.50 1.64 1.76 1.59 1.73 1.87 1.92 1.76growth, % y-o-y -38% -31% -33% -29% -19% 4% 2% 6% -18% -6% -3% 2% -5%

Unemployment Rate (%) 1.5 1.5 1.6 1.9 1.9 1.9 1.7 1.6 1.6 1.5 1.4 1.3 1.3

Average Salary (US$) 199 207 193 223 180 174 187 191 198 214 217 208 204

OFFICIAL CURRENCY EXCHANGE RATEUAH / USD 21.8 21.8 23.3 23.4 24.3 26.4 26.4 25.6 25.2 25.0 24.8 25.1 26.3

UAH / EUR 24.5 24.6 25.1 25.4 26.3 29.3 29.2 29.1 28.5 28.1 27.5 28.1 29.5

PHARMACEUTI CAL INDUSTRY INDICATORSExport of Pharma Products (mio USD) 13.79 12.2 11.7 15.77 8.31 13.33 15.54 13.90 14.17 16.15 13.36 13.58 18.8

growth, % y-o-y -47% -37% -52% -28% -30% 11% 16% 3% 9% 5% -4% 51% 37%

Import of Pharma Products (mio USD) 121.1 147.1 141.3 142.1 103.7 145.0 125.1 130.0 110.4 132.1 133.1 137.3 140.6growth, % y-o-y -31% -28% -24% -42% 15% 27% 21% 25% 31% 15% 25% 47% 15%

Pharma Retail Sales, values (mio USD) 193.2 206.3 196.6 212.3 198.9 176.0 187.3 178.1 177.6 174.8 175.4 180.9 190.4growth, % y-o-y -28% -26% -20% -18% -17% -1% -5% -1% -8% -2% 2% 2% -1%

Pharma Retail Sales, volumes (mio units) 126.7 130.2 129.0 136.4 133.6 126.8 133.8 125.2 123.6 122.6 122.7 126.2 135.5growth, % y-o-y -11% -5% -4% -5% 1% -12% -5% 2% -1% 4% 3% 3% 7%

WACP (USD) 1.52 1.58 1.52 1.56 1.49 1.39 1.40 1.42 1.44 1.43 1.43 1.43 1.41growth, % y-o-y -19% -22% -18% -14% -23% -23% 13% 1% -2% -6% -3% -1% -8%

CPI of Ukraine 151.9 146.4 146.6 143.3 140.3 132.7 120.9 109.8 107.5 106.9 107.9 108.4 107.6

Pharmaceutical Products CPI 145.8 142.1 138.1 134.6 131.9 126.9 113.5 108.4 107.3 108.2 107.4 107.2 107.9

Local Companies share, values (%) 41.4 41.4 41.7 40.9 42.3 42.9 42.7 42.3 42.9 42.8 42.8 41.8 42.6

Local Companies share, volumes (%) 76.5 75.7 75.8 76.7 75.6 76.5 76.5 76.7 77.2 77.4 77.9 68.9 68.4

MACROECONOMIC ENVIRONMENT

Description of the indicators:

MACROECONOMIC INDICATORS

GDP (Gross Domestic Product) is an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs) calculated in current prices. Converted from UAH to USD in accordance with an average official NBU exchange rate in the corresponding period. Hereinafter: excluding the temporarily occupied territory of the Autonomous Republic of Crimea and City of Sevastopol, as well as the part of zone of the antiterrorist operation. Source: State Statistics Service of Ukraine.

Export of Goods is a sale of goods by Ukrainian subjects of foreign economic activities to foreign subjects of foreign economic activities (including non-cash payment) with or without exportation of these goods through the customs border of Ukraine, including the re-export of goods. Initially calculated in USD. Source: State Statistics Service of Ukraine.

Import of Goods is a purchase (including non-cash payment) of goods by Ukrainian subjects of foreign economic activities in foreign subjects of economic activities with or without the importation of these goods into the territory of Ukraine, including the purchase of goods for domestic consumption by establishments and organizations of Ukraine located abroad. Initially calculated in USD. Source: State Statistics Service of Ukraine.

Industrial Production Sales is the value of industrial goods, which are actually shipped in the period, as indicated in documents decorated as the basis for calculating with the buyer (customer), regardless of income payments for them. Converted from UAH to USD in accordance with an average official NBU exchange rate in the corresponding period. Source: State Statistics Service of Ukraine.

Retail Turnover of Enterprises is the value of consumer goods sold via retail trade and restaurants to the population by all operating enterprises. It also includes direct retail sales by industrial, transport and other non-trade enterprises. In addition, retail turnover includes retail sales of food products to departments, organizations and enterprises to provide meals to the people they serve (at sanatoria, children’s care institutions, hospitals, etc.). Reflected in current prices. Converted from UAH to USD in accordance with an average official NBU exchange rate in the corresponding period. Source: State Statistics Service of Ukraine.

Unemployment Rate is a ratio (percent) of the unemployed registered at the State Employment Service to the average annual population of working age. Source: State Statistics Service of Ukraine.

Average Salary is an average value of remuneration in cash and in kind paid to employees for time worked or work done. Converted from UAH to USD in accordance with an average official NBU exchange rate in the corresponding period. Source: State Statistics Service of Ukraine.

Official Currency Exchange Rate is the rate established by the National Bank of Ukraine under which Ukrainian national currency – UAH (Ukrainian hryvnia) will be exchanged for foreign currency (USD or EUR). Calculated as average value in the corresponding period. Source: National Bank of Ukraine.

PHARMACEUTICAL INDUSTRY INDICATORS

Export of Pharma Products is an export of goods related to the group “Pharmaceutical products” under the Ukrainian Classification of Goods for Foreign Economic Activities. Initially calculated in USD. Source: State Statistics Service of Ukraine.

Import of Pharma Products is an import of goods related to the group “Pharmaceutical products” under the Ukrainian Classification of Goods for Foreign Economic Activities. Initially calculated in USD. Source: State Statistics Service of Ukraine.

Pharma Retail Sales are retail sales of different product categories of “pharmacy basket” (drugs, medical devices, cosmetics and food supplements) in values and volumes. Converted from UAH to USD in accordance with an average official NBU exchange rate in the corresponding period. Source: Morion.

WACP (Weighted average cost of a pack) is a ratio of pharma retail sales in values to pharma retail sales in volumes.

CPI (Consumer price index) is an indicator of changes at the time of prices and tariffs for commodities and services being purchased by the population for unproductive consumption calculated to corresponding month of previous year. Source: State Statistics Service of Ukraine.

Pharma Products CPI is a Consumer price index of “Pharmaceutical products, medical products, appliances and equipment” group calculated to corresponding month of previous year. Source: State Statistics Service of Ukraine.

Local Companies Share is the share (percent) of sales related to Ukrainian companies in overall pharma retail sales in values and volumes. Source: Morion

Table: Key MacroeconomicIndicators in Ukraine

(September 2015-September 2016)

193.2

206.3

196.6

212.3

198.9

176.0

187.3178.1 177.6 174.8 175.4

180.9

190.4

126.7130.2

129.0

136.4133.6

126.8

133.8

125.2123.6 122.6 122.7

126.2

135.5

100

110

120

130

140

150

160

100

120

140

160

180

200

220

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Pharmaceutical Market Retail Sales2015 2016

Volumes

Values mio USD

mio units

119933.222

206.3

1196.6

221122.33

112266.77130.2

129.0

113366.44

Sep Oct Nov Dec

2015

13.8

12.2 11.7

15.8

8.3

13.3

15.5

13.9

14.2

16.1

13.4 13.6

18.8

122.2

147.1 141.3 142.1

103.7

145.0

125.1 130.0

110.4

132.1 133.1137.3 140.6

0

20

40

60

80

100

120

140

160

0

4

8

12

16

20

24


Ukraine's International Trade in Pharma Production

2015 2016

Export

Import

mio USD

mio USD

13.8

12.2 11.7

15.8

122.22

147.1 141.3 142.1

Sep Oct Nov Dec

2015

5.72

6.295.92

6.37

4.93 4.93

5.415.17 5.39

5.44 5.61 5.57 5.62

1.862.04

1.80

2.01

1.601.50

1.641.76

1.591.73

1.87 1.921.76

0.0

0.5

1.0

1.5

2.0

2.5

3.0

0

1

2

3

4

5

6

7


Industrial Production Sales & Retail Turnover of Enterprises Surplus

2015 2016

Retail turnover of enterprises

Industrial production sales

bn USD

5.72

6.295.92

6.37

11.88662.04

1.80

2.01

Sep Oct Nov Dec

2015

bn USD

21.8 21.823.3 23.4 24.3

26.4 26.4 25.6 25.2 25.0 24.8 25.126.3

26.124.6 25.1 25.4 26.3

29.3 29.2 29.1 28.5 28.1 27.5 28.129.5

151.9146.4 146.6 143.3 140.3

132.7

120.9

109.8 107.5 106.9 107.9 108.4 107.9

0

20

40

60

80

100

120

140

160

0

5

10

15

20

25

30

35

40

45

50


2015 2016 Official Currency Exchange Rates vs. Consumer Price Index

UAH / EUR

UAH / USD

CPI

2211.88 2211.8823.3 23.4

26.124.6 25.1 25.4

115511.99146.4 146.6 143.3

Sep Oct Nov Dec

22001155


KEY ECONOMIC EVENTS

» The EBRD downgraded forecast for the Ukrainian GDP growth in 2016 from 2.0% to 1.5%. “Ukraine’s economy resumed growth in the first half of 2016 after a total fall of GDP by 16% over the previous two years. Bad loans remain an acute problem for Ukraine,” the Bank said.

» IMF forecasts 2.5% GDP growth for Ukraine in 2017 and +4% in 2021. Consumer inflation in Ukraine in 2016 is expected at 15.1%, and at 11% in 2017. The World Bank predicts that GDP will grow by 1% in 2016, by 2% in 2017. WB in Ukraine economist Anastasia Holovach said Ukraine’s econopmy grew by 0.8% in the six months of 2016.

» Ukraine was ranked 80th country in Doing Business 2017 rating prepared by the World Bank, climbing 1 position y-o-y. Ukraine has shown best improvements in Protecting Minority Investors (from 101st to 70th position) and Enforcing Contracts (from 81st to 93rd position) topics.

» On Oct 20, Ukrainian Parliament approved the Draft Budget 2017 in the first reading. The spending plan is based on 3% y-o-y GDP growth, 8.1% y-o-y CPI growth and 27.2 UAH/USD exchange rate.

» Submission of e-declarations by Ukraine’s top officials has shown that most of them including the President, the PM, the Head of the National Bank keep their savings in foreign currency. Moreover, they prefer using foreign banks for their savings.

» In Sep, Ukraine’s Gross International Reserves have grown 9.9% to USD 15.5 bn in the virtue of the IMF loan tranche and Eurobonds placement.

» Ukrainian President promised the EU would approve visa-free travel regime with Ukraine in by Nov 24, 2016, the day of the Ukraine-EU summit.

» Ukrainian PM proposed doubling minimum monthly wage in Ukraine to UAH 3,200 (123 USD) since 2017. Thereby, the Head of the government asked Parliament to amend the Draft Budget 2017.

» On Oct 13, Ukraine’s President signed the law on ratification of agreement between Ukraine and the European Investment Bank on allocation of EUR 400 mio for projects in agriculture.

» Ukrainian industry showed 2% y-o-y growth in Sep. Machinery has grown 4.5% y-o-y, chemicals – 4.8% y-o-y. In 9M2016, the industry grew 2% y-o-y.

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MARKET & COMPANIES NEWS

Farmak plans to enter Malaysian market by the end of 2018

Ukrainian pharmaceutical company Farmak plans to register a series of its products in Malaysia by the end of 2018, the company’s Business Development Director said. The company intends to launch its strategical preparations, in particular, insulins and original antiviral drug Amizon (enisamium iodide). In 2015, Farmak has already registered Amizon in Mongolia and now searching for opportunities in Southeast Asia – Vietnam, Malaysia and Indonesia.

In 2015, Farmak increased its sales by 41.7% to UAH 3.6 bn. The company plans to expand its sales at external markets and reach USD 1 bn sales by 2020. Farmak’s portfolio includes 200 names of drugs.

Biofarma to export drugs in Yemen

Ukrainian company Biofarma signed a long-term contract with the Department of Health and Medicine of the Chamber of Commerce of the Republic of Yemen on exports of its drugs in the country. It is expected that about 20 preparations of Biofarma will be available to Yemen’s population at the beginning of 2017.

Biofarma is one of the biggest local pharmaceutical companies in Ukraine producing more than 130 brands in 11 pharmaceutical groups. The company’s key activity is the manufacturing of high-technological preparations made of donor blood as well as recombinant drugs and bacterial preparations.

Zdorovye will cooperate with the US company

Within the International Economic Forum “Innovations. Investments. Kharkiv initiatives”, Ukrainian company Zdorovye signed the contract on investment and industrial activity with the American pharmaceutical company Unicity.

Unicity is exploring the possibility of joint production of drugs in the Kharkiv region in order to promote its products in on European market. “We understand that the exchange of experience with one of the largest Ukrainian pharmaceutical companies will allow us to subsequently launch the new high-performance drugs onto Ukrainian market,” the Director of Unicity Michael Turner said.

The GM of Zdorovye Alexandr Dorovskoy reported that his company also plans to lunch some of its preparations like Glutargin (arginine glutamate), Inflarax and Arthiflex cream onto the US market.

Zdorovye was 7th company on Ukrainian pharmaceutical market in 9M2016. The company’s facilities comply with the GMP requirements, while its portfolio includes more than 350 items of medical products of all pharmacotherapeutic groups.

Arterium launched new neurological drug

Arterium Corporation launched Mediatorn (ipidacrin) used during inflammations of the peripheral nervous system, polyneuropathy, polyradiculopathy, myasthenia gravis and myasthenic syndrome, bulbar palsy, multiple sclerosis. The drug is also used in the

period of recovery organic lesions of the central nervous system, accompanied by movement disorders.

The drug is produced at GDP certified facilities of Galychpharm plant. Arterium Corporation includes two companies Kievmedpreparat (Kyiv) and Galychpharm (Lviv). In 9M2016, Arterium was the second company at the Ukrainian pharmaceutical market by sales in values, climbing 3 positions y-o-y.

Servier and Ukrainian distributors fined for collusion

Antimonopoly Committee of Ukraine fined Servier Ukraine for about UAH 1.7 mio for anticompetitive concerted actions conducted in cooperation with Ukrainian distributors. Following distributors were fined: Optima Pharm – UAH 180 ths, BaDM – UAH 903 ths, Alba Ukraine – UAH 340 ths, Ludmila Pharm – UAH 424 ths and A’STA – UAH 424 ths.

Earlier, in Sep, the Antimonopoly Committee fined Swiss company Alcon Pharmaceuticals and Ukrainian distributors for a total of UAH 1.56 mio.


REGULATORY UPDATES

Reimbursement of medicinal products’ prices to be implemented since Jan 2017

Ministry of Health of Ukraine has numerously expressed to the public its readiness to implement the reimbursement of medicinal products’ prices. Today more and more often the media inform on the exact implementation date of this initiative, which is Jan 01, 2017.

The latest newsmaker on this occasion was Mr. Nikolay Povoroznik, Deputy Head of Kyiv City State Administration, who presented the draft of City Target Program «Kievers’ Health» for 2017-2019. The program text is unpublished so far. According to Mr. Povoroznik, it is planned to reimburse the costs of medicinal products in the following areas:

» orphan diseases,

» bronchial asthma,

» chronic obstructive pulmonary diseases,

» diabetes,

» ulcer diseases.

It is worth to mention that the details of reimbursement are not made public yet. It is still not clear what will be the procedure for the reimbursement; in particular if the patients’ expenditures will be reimbursed completely or partially.

MOH clarified the procedure of obtainment of new registration certificates for products with perpetual re-registration in Ukraine

On Oct 20, 2016, the Ministry of Health of Ukraine published on its official web-site the clarification on the mechanism of exchange

of registration certificates for medicinal products being re-registered and therefore their registration became unlimited.

The Ministry provided the following steps for the new document obtainment:

» The applicant submits an application in optional form to the State Expert Center with the request to receive new certificate instead of the one that was valid for 5 years.

» The State Expert Center prepares the draft registration certificate of the new form and provides it to the applicant for data check and coordination.

» The State Expert Center prepares the original document and submits it for MOH signature within 3 working days upon the approval of the draft registration certificate of new form by the applicant.

» The applicant receives the new document at the State Expert Center. In order to receive the registration certificate the applicant should provide the power of attorney confirming its authorities.

Please pay your attention to the fact that there is no legislative procedure for application and obtainment of the new registration certificate. In addition, it is worth to mention that the Ministry of Health does not provide the terms for decision making at each stage: the term for the coordination of draft certificate prepared by the State Expert Center, the term for MOH signing the original registration certificate and it’s returning to the State Expert Center.

Moreover, the temporary old registration certificate is valid within the stated terms (5 years), and it may be optionally exchanged by the applicant within

the established term.

MOH invokes the termination of the number of orders due to the cancelation of medical devices’ registration in Ukraine

On Oct 07, 2016, the Ministry of Health at its web-site provided for public consideration the Draft MOH Order «On the Annulment of Orders of the Ministry of Health of Ukraine on State Registration of Medical Devices» (hereinafter – the «Draft»).

The Draft provides for the annulment of the following orders:

» MOH Order #478 dated 02.07.2012 «On Approval of the List of Medical Devices Subject to State Registration (Re-registration) in Ukraine»;

» MOH Order #979 dated 30.11.2012 «On Approval of the Procedures on Import to the Territory of Ukraine of Unregistered Medical Devices»;

» MOH Order #616 dated 03.08.2012 «On Approval of Rules of Conduct of Medical Devices’ Clinical Trials and of Model Regulation on Ethics Commission».

It is worth to mention that the state registration of medical devices in Ukraine has been terminated since Jul 01, 2015. In a year, starting from Jul 01, 2016, such registration gave place to the assessment of medical devices’ compliance with the relevant technical regulations (including for in vitro diagnostics and active implanted medical devices).

Provided by


HEALTHCARE NEWSUkraine to approve full law package for healthcare reformation by year-end

The Memorandum Ukraine signed with the IMF, obliges Ukraine to approve the full package of law, which would allow to reform healthcare system of Ukraine. According to the document, the reforms should relate to decentralization, enhance of autonomisation of hospitals and transfer to funding based on medical services provided, not hospital beds.

The Memorandum states that Ukraine has already managed to decrease the number of hospital beds from 80 to 60 per 10 ths population and reformed the system of public procurement of pharmaceutical and medical equipment.

Head of State Service on pharmaceutical products and drugs control appointed

On Oct 4, Natalia Gudz has become the winner of the competition for the position of Head of State Service on pharmaceutical products and drugs control. Earlier Mrs. Gudz headed territorial administration of the authority in Kyiv. Vladyslav Tsylin was appointed at the position of The First Deputy Head of the Service.

Transition to insurance medicine to start in 2017

Transfer of the healthcare

system to the insurance model will start in 2017 and will last 3 years, the Deputy Head of the MOH Pavlo Kovtoniuk said. The transformation is to start from the launch of family medicine based the European model, which would allow Ukrainians to freely choose family doctor and pediatrician and to sign direct contracts with them. The contracts will indicate the amount of services, guaranteed and paid by the state.

The work of the physicians will be paid according to the standards depending on the number of contracts concluded with the doctor. Wherein, doctors primary care physicians will be able to choose any organizational form of work: private entrepreneur, polyclinics, dispensaries, etc.

The reform does not provide for the introduction of new taxes or insurance premiums.

State Program for funding of artificial heart installation may be launched since 2017

Since 2017, the government may launch State Program, which would allow financing the implantation of “mechanical hearts” in Ukraine. The Head of Heart Institute of the MOH Borys Todurov stated that preliminarily, the program provides for allocation of UAH 15 mio, which would allow to conduct 5 implantation surgeries a year. Moreover, the experts see the Program as a first step towards

transplantation in Ukraine. In Nov 16, the surgeons of the Heart Institute successfully conducted the second in Ukraine operation on artificial heart implantation.

MOH initiates creation of the National Health Service of Ukraine

The MOH developed the Draft Resolution, which aims to create the National Health Service of Ukraine. The Body is to perform the role of a single national customer of healthcare services by concluding contracts with healthcare providers at all levels and forms of property related to the purchase of medical services within the state guaranteed health care package, which will create competition between potential service providers. The Service will dispose the public funds intended to cover the cost of insurance for all citizens of Ukraine in the framework of the state guaranteed healthcare package.


BelarusSince the beginning of 2016, Belmedpreparaty pharmaceutical company mastered the production of 16 new drugs. Among them are analogues of Indian and Cuban drugs, which have import substitution significance

NatiVita company launched targeted drug, which influence solely the cancer cells and thus do not affect healthy organs and tissues.

NatiVita company research center in Beshankovichy. The company’s director stated that in 2017 NatiVita plans to establish a production of six innovative drugs.

KazakhstanVice Minister for Healthcare and Social Development of Kazakhstan met with Heads of Slovenian companies and discussed the possibilities for establishing production facilities of KRKA and Lek (Sandoz) in Kazakhstan.

Within Kazakh-Hungarian business forum, Kaznex Invest company and International research and production holding Phytochemistry signed agreement with Hungarian company PannonPharma LTD on organization of manufacturing of original medicines based on natural substances in Karaganda.

In 8M2016, the amount production of pharmaceuticals in Kazakhstan reached KZT 24.4 bn (2.5% PPG growth). In 1H2016, the production of antibiotics increased 30% PPG, which was related to the commissioning of

the new plant of Chimpahrm JSC (SANTO).

On 24/10/2016, Nobel AFF launched its fifth production hall, the construction of which had started in Jan 2015. The total production area is 900 m2. The hall will be used for the manufacturing of medicines and packages.

RussiaNational Immunobiological Company (NacImBio) and Siemens Healthineers signed the agreement on cooperation and partnership. The parties intend to create working group for analysis of mutual spheres of interest.

Federal Antimonopoly Service endorsed Joyful Group (British Virgin Islands) to conduct acquisition of 20% voting shares of the Russian Boicad Holding ltd.

Geropharm company received investments form Russian Direct Investment Fund, which will be allocated for the construction of a new high-tech industrial complex of full cycle in St. Petersburg.

BIOCAD company intends to expand its presence in South-East Asia by increasing the volume of supplies to Sri Lanka, Vietnam and Bangladesh. The company also plans to enter the markets of Mexico, Argentina and other countries of Latin America.

On 11/10/2016, Novosibirsk Research Institute of Tuberculosis presented new nano aerosol forms of anti-TB drugs, which have significantly lower adverse effects. The Institute will

conducts preclinical and clinical trials of the drug forms.

Sberbank banking company granted RUB 3.3 bn to Polysan pharmaceutical company for the construction of the third production line as well as bank guarantees for RUB 3 bn to Pharmimex company.

On 12-14 October, Sintez JSC reached the range of cooperation agreements with Belarus companies. The company intends to increase the supply of own drugs in Belarus by 1.5 times

On 22/10/2016, Mechnikov plant, which had been built with participation of Russia, was put into operation in Nicaragua. The plant is expected to produce 30 m doses of vaccines against influenza per season.

On 25/10/2016, Akrikhin JSC and Acticomp CJSC signed the protocol on cooperation for the production of pharmaceuticals. Akrikhin JSC plans to produce finished drugs based on substances developed by Acticomp CJSC.

In next 3-5 years, Bayer plans to increase the local production of pharmaceuticals and agricultural products to 30% of the overall sales in Russia.

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