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Main  >  News  >  Russia launches a special program to support the pharmaceutical industry

Russia launches a special program to support the pharmaceutical industry

The Russian government is launching a program to support backbone enterprises in the pharmaceutical and medical industries, as well as distributors of such goods and pharmacy chains, Prime Minister Mikhail Mishustin said at an operational meeting with his deputies.

“The government is launching a special program to support backbone enterprises in the pharmaceutical and medical industries, as well as distributors of such products and pharmacy chains,” the prime minister said.

He noted that due to external pressure on Russia and disruption of logistics chains, objective difficulties with supplies may arise. The head of the Cabinet assured that the authorities are taking measures to make the drugs people need available. First of all, these measures help companies that are able to provide their own production, Mishustin said. All of them will be able to receive independent bank guarantees with a preferential commission rate. For enterprises, it will be 1%, and banks will be compensated up to 2%.
“A government decree has been signed that establishes the rules for reimbursement of such expenses to credit institutions,” Mishustin added.

The prime minister explained that the mechanism of independent guarantees helps to protect participants in transactions: if companies cannot fulfill their obligations under contracts for some reason, they have no way to pay, then the supplier will receive funds from the bank.

“Using such a tool, pharmaceutical companies and pharmacies will be able to minimize risks,” the head of the Cabinet said.

Also, according to the prime minister, a decision was made to speed up and simplify the procedures for state registration of drugs that are lacking in the Russian Federation: it will be possible to import and sell registered drugs in packages originally intended for sale in foreign countries. Medicines that can be registered in a simplified manner will be determined by a special interdepartmental commission. Its composition will be approved by the Ministry of Health in the near future.

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