On June 2, 2021, Petrovax President Mikhail Tsyferov actively participated in St. Petersburg International Economic Forum.
The company head was a speaker in two sessions of the forum related to drug security in general: “Immunization as an Investment Attraction Point: How Will the Pandemic Change the Vaccine Development Market as a Whole?“, and “Socially Responsible Business: the Pharma Industry in the Patients’ Interests”.
Mikhail Tsyferov stated during the discussion that vaccinal prevention is probably the most undervalued area of healthcare, and the good to which the society got accustomed long ago and does not appreciate it.
Mikhail Tsyferov also spoke about cooperation with Chinese partners in vaccine development and production.
Petrovax was the first company to launch phase III of clinical trials of Convidecia vaccine in countries participating in international trials and provided for it at the highest level involving 6,000 volunteers.
As part of the session about socially responsible business Mikhail Tsyferov stated:
We are proud of our approach to pricing because reputation is the most important asset for us, which is necessary for long-term sustainable development. In Russia we localized and produce «Prevenar 13» vaccine in cooperation with Pfizer – this is one of the most expensive vaccines in the world which is regularly used as part of national immunization schedules. At the same time, the cost of the vaccine on the Russian market is the lowest one compared to other countries».
Participation of the company head in the business program of the event was logical, as it followed signing of the Declaration on policy in development, production, quality control and safety monitoring of drugs between members of the Association of Pharmaceutical Producers of the Eurasian Economic Union, including Petrovax Pharm.