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28
April
2017

Pharma and Biotech 2017: pharmaceutical business regulation and development during crisis

On April 26 and 27, 2017, Moscow hosted the Sixth International Pharma and Biotech 2017 Forum on the topic “Regulation and Development of Pharmaceutical Business in a Crisis”*.

Maria Borzova, Manager of VEGAS LEX Life sciences projects, delivered a report on The Current Vector of the Pharmaceutical Industry Development in Russia: Challenges and Opportunities, at the first session of the forum. She talked about the current state of the regulatory and legal framework of the EAEU, the replaceable medicines concept and the regulatory specifics of its development, the significance and potential impact on the market of initiatives to introduce reference pricing, and a ‘three-stage system of preferences.’ The expert highlighted the innovative cooperation arrangements between the government and business. She concluded that the above initiatives are aimed at attaining the key targets of the development of the pharmaceutical industry. However, the expert also concluded that existing regulatory gaps and conflicts in the law enforcement practice could create significant risks to the implementation of the proposed initiatives, as well as the risk of failure to achieve the stated goals.

The participants also discussed the rules of transportation and storage of medicines, healthcare financing issues and the procurement system and state programs reforms.

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* The event was organized by the nonprofit partnership Cold Chains and Biotechnologies, and the company Komtekh-Consult.

For more information on VEGAS LEX’s services for the pharmaceutical industry, please click here.

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