RANEPA and Petrovax Pharm to Assess the Pharmaceutical Industry’s Contribution to Russia’s Economic and Scientific Development

The Presidential Academy (RANEPA) and the biopharmaceutical company Petrovax Pharm have signed a cooperation agreement aimed at assessing the contribution of Russia’s pharmaceutical industry to the country’s economic and scientific development, as well as to strengthening pharmaceutical sovereignty. The agreement was signed at the St. Petersburg International Economic Forum (SPIEF).

At the first stage, experts will analyze the impact of import substitution and the development of innovative domestic pharmaceutical manufacturing under the Pharma-2020 and Pharma-2030 strategies on macroeconomic indicators and the country’s scientific potential.

The study will focus on effects that are typically beyond the scope of conventional pharmacoeconomic analyses. Traditionally, such analyses assess a medicine’s impact on patient outcomes in relation to healthcare expenditures. However, they do not account for broader indirect and long-term effects, including investments in drug discovery, preclinical and clinical development, manufacturing localization, workforce training, and the creation of new scientific competencies. When the entire value chain is concentrated within the country, it contributes to the accumulation of expertise and strengthens the technological foundation of the industry.

Based on the findings, the parties will prepare proposals for improving the regulatory framework, taking into account the long-term contribution of Russian pharmaceutical innovations to both the healthcare system and the national economy.

The agreement between Petrovax Pharm and RANEPA is expected to contribute to the development of Russia’s pharmaceutical industry, strengthen the country’s scientific and technological capabilities, and support its long-term pharmaceutical independence.