Mikhail Tsyferov spoke about the challenges, opportunities and prospects faced by the pharmaceutical industry during the pandemic at the RussiaTALK Online 2020 Forum

«Never Waste a Good Crisis». This was the main headline for the RussiaTALK Online 2020 Forum held on October 2. President of Petrovax, Mikhail Tsyferov, took part in one of the panels devoted to discussing issues of healthcare during the pandemic. The session was moderated by Daniel Thorniley, President of DT Global Business Consultancy.

“2020 has been an unbelievable year for our company. Petrovax, one of the largest Russian biopharmaceutical companies, was actively involved in the fight against the pandemic back in the spring by launching an international program for researching the Polyoxidonium medicine, as by the WHO protocol. This was one of the largest studies of the medicine in Russia connected to COVID-19, involving several countries and scientists from all around the world. I would like to take this opportunity to point out the help we received from British experts and thank our colleagues for the effective and fruitful cooperation”,
– said Mikhail Tsyferov.

In addition, Petrovax continues active cooperation with the Chinese company CanSinoBIO to develop a vaccine against coronavirus infection.

“The launch of the third phase of clinical trials took several months of intense work from our teams. It has served as an excellent example of international partnership that is gaining momentum and involving more and more countries”,
– said the President of Petrovax.

Close cooperation with such a large international company as CanSinoBIO allows organizing large-scale clinical trials. Vaccination of volunteers has already begun in Russia this September.

International cooperation is one of the main priorities of Petrovax. The company is successfully exporting its products to the EAEU countries, EU and Iran.

According to the head of the company, logistics support for the entire chain of the production process is one of the most complicated tasks in modern circumstances. Petrovax is taking great pains to maintain the continuity of the supply chain.

While analyzing the development trends of the pharmaceutical market, Mikhail Tsyferov noted that the company decided to avoid relying too much on the constantly changing market dynamics, choosing to rather consider the potential of localizing production.

“If you localize, then your chances are increased”,
Mikhail Tsyferov pointed out, noting that the level of trust in a local manufacturer is higher, which means that it has better development prospects in the Russian market.

In the near future, Petrovax is planning further expansion and increase of export supplies.

“We are one of the three largest exporters in Russia and plan to actively develop this area, e.g. by expanding the research base of our products in other countries”,
– revealed the President of Petrovax.
“The pandemic shook up all companies, the whole world, forcing them to accelerate their development in all directions. We have definitely become more efficient. This is a challenge that does not kill us, but makes us stronger, opening up new opportunities”,
– summed up Tsyferov.
Previous news

Mikhail Tsyferov speaks about international drug studies and COVID-19 vaccine manufacturing prospects in Russia at the 5th GMP conference