Elena Arkhangelskaya spoke as an expert at the Russian Pharmaceutical Forum

On May 19–21, St. Petersburg was the venue of the 21^st Russian Pharmaceutical Forum organized by Adam Smith Conferences. The event is one of the most important for the pharma industry. Annually, it brings together professional community members to discuss pressing industry development issues, and exchange experience.

Petrovax Pharm was among the most active forum participants. Petrovax Pharm President Elena Arkhangelskaya spoke at the session on the development of adaptive market strategies in the public sector. The speaker analyzed the issues concerning the development of international cooperation, and localization of pharmaceutical projects.

«Presently, there are two development paths for foreign companies in Russia: first is setting up their own manufacturing facilities; second is localization of their pharmaceuticals at the already operating manufacturing sites. My experience suggests that pursuing localization projects with partners that have state- of-the-art production capacities and in-house expertise makes it possible for foreign companies to use the resources that are already available in Russia, optimize regulatory issues, and avoid spending time and resources on  long-term construction. At the same time, international cooperation with the Big Pharma companies is useful for local manufacturers, too. This gives an impetus to the development of the Russian pharmaceutical industry as the expertise, advanced technologies, and knowledge provided by the world leaders are absolutely invaluable; they cannot be obtained by ways other than on practice in close interaction," said the speaker.

In respect of the government initiatives, Petrovax Pharm leader emphasized that long-term contracts and a clear understanding of the public procurement mechanisms would have helped local manufacturers to faster respond to the state and market demand and ignore the currency rate fluctuations understanding that they had conditions for stable activity and development.