According to Petr Bely, the Russian pharmaceutical industry does not need subsidies or other non-refundable forms of financial support. Domestic companies can independently invest in their development and have to do this. «But this does not mean that the industry does not need state support. It is necessary for faster opening and development of new markets, so that pharmaceutical companies can take risks, invest, launch new drugs, develop new technologies and molecules – this will really support the heating up of the national pharma,» Pyotr Bely said.
In 2020, Promomed Group used the IDF (Industrial Development Fund) option. At that time, the Ministry of Industry and Trade of Russia supported the construction of a new production of ampoule dosage forms, the opening ceremony was attended by the Minister of Industry and Trade Denis Manturov.
As we heard at the plenary session yesterday, the mechanism will be continued and improved, and this is an amazing potential for supporting pharma, as it makes it possible to implement long-term and large projects. Such support in the form of long-term loans at a low rate reduces the risks for companies; in our case it allowed us to launch the anti-COVID drug Areplivir in an extremely short time.
The session was moderated by the First Deputy Minister of Industry and Trade of the Russian Federation Vasily Osmakov. The session was also attended by Deputy Minister of Health of the Russian Federation Sergey Glagolev, Deputy Head of the Federal Antimonopoly Service Timofey Nizhegorodtsev, as well as heads of pharmaceutical companies.
