03.06.2021
Petrovax President Mikhail Tsyferov actively participates in SPIEF-2021

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.

«However, now the situation is changing, and we see great attention of the society to the coronavirus. The virus will certainly stop sooner or later, but investments, production capacities and competences will remain. This is why it is important to maintain and develop the immunobiological industry in general».
Mikhail Tsyferov, Petrovax President

Mikhail Tsyferov also spoke about cooperation with Chinese partners in vaccine development and production.

«Our partnership with CanSino expands our opportunities not only in terms of meeting the demand for COVID-19 vaccines, but also in terms of ensuring additional investments and knowledge».


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.

«Under the agreement we get an opportunity to come onto certain markets where we are already doing business. I hope that this project was useful for the immunobiological industry in general because this brought new competences and investments to Russian medicine, demonstrating its quality at the international level again. The project is developing in accordance with plans, and we expect that the first export sales will start».

As part of the session about socially responsible business Mikhail Tsyferov stated:

«The more ethical a company is, the more sustainable its business is. We ensure high quality of our drugs and their availability for patients. We will not stop doing this.

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.

«The Declaration is another step towards establishing an open dialog with medical and patient communities. We adhere to the strict principles of quality control and safety of products. Health of our patients is our main target», Petrovax head emphasized.


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