In a major development, Russian media has reported that in the year 2023, India became Russia’s largest pharmaceutical supplier, filling the gap left by the formerly dominating Western companies. This was said based on the data compiled by RNC Pharma.
The boom in Indian pharmaceutical exports has displaced Germany, Russia’s top supplier in 2021 and 2022. Berlin plunged its supplies to Russia by about 20% last year, to 238.7 million packages. Meanwhile, Indian manufacturers increased their exports by 3% last year, delivering about 294 million packages of pharmaceuticals to Russia.
The steps taken by Western pharmaceutical businesses in response to the Ukraine conflict have contributed to the shift in pharmaceutical supply dynamics towards Russia.
Several of these firms have suspended non-essential operations and investments in Russia. Furthermore, major international pharmaceutical companies including Eli Lilly, Bayer, Pfizer, MSD, and Novartis have halted new clinical studies in the country.
Meanwhile, the Indian pharmaceutical companies are expanding their business prospects in Russia, including joint ventures, RT reported.
“Other key supplying countries include France, from where 149.3 million packages were imported to the Russian market (an increase of 7.6%), Hungary (112.5 million packages – 11.6% more than a year earlier) and Belarus. The latter increased supplies by 6.9%, to 109.8 million packages. The decline among large suppliers of drugs to Russia occurred in the UK (by 10.5%, to 63.2 million) and Poland (by 16.5%, to 60.9 million). Among the countries that began deliveries to Russia for the first time last year is the UAE, from which 35.7 thousand packages were imported, Armenia (1.6 thousand) and Cuba (1.5 thousand),” the RBK article reads.
According to RNC Pharma, in the year 2023, Israel’s Teva exported 149.8 million packages to Russia – 11% more than a year earlier. In second place is India’s Dr Reddy’s, which increased supplies by 12% to 110.1 million packages of drugs.
As per RNC Pharma’s data, Mumbai-based Oxford Laboratories increased its supplies to Russia by 67% in 2023, reaching 4.8 million packages. Its portfolio comprises cardiovascular, erectile dysfunction, ophthalmology, and other medications. Ipca Laboratories, another significant Indian pharmaceutical company that specialises in generics – medicines that contain the same ingredients as a drug that was previously solely manufactured by the patent holder – increased its exports by 58% last year, reaching 13.7 million packages.
