Russian pharmaceutical company Petrovax is expanding its export portfolio and considering new markets for its pharmaceuticals and vaccines. At CPHI Worldwide 2021, an international pharmaceutical exhibition from 9th to11th November in Milan, Italy, Petrovax received over 70 offers from potential partners in Eastern Europe, the Middle East, and Latin America.
Over the three days, more than 250 representatives of potential partner companies visited Petrovax’s exhibition stand, wh ere the company’s original medicines and vaccines, generics, and dietary supplements were displayed. Given the growing interest in biotechnology and vaccine prophylaxis, as well as in researching into effective medicinal methods for post-Covid recovery, the participants of CPHI Worldwide were particularly curious about Longidaza®, an enzyme product, which received a European patent in October 2021 and can be used in pulmonology, as well as in the influenza vaccines Grippol® Plus, Grippol® Quadrivalent and the immunomodulating product Polyoxidonium®.
Following the business meetings in the exhibition, Petrovax expects to start working with several potential suppliers of biotech products. This involves organising production site inspections to ensure these companies comply with the international GMP standards. Petrovax’s strategic goal is to further develop its vaccine line and original range of products, as well as to expand its OTC portfolio. The company is willing to invest in projects that focus on socially significant diseases and areas, such as nosology, oncology, autoimmune diseases, etc.
Dmitry Pasechnik, Global Business Affairs and Export Director at Petrovax, says:
International exhibitions remain one of the best business tools, providing amazing networking opportunities within a short period. They serve as a convenient way for companies already interested in each other’s products to meet and discuss business projects, as well as a platform for establishing contacts with new partners.
According to Mr Pasechnik, foreign players in today’s pharmaceutical industry are considering Russia as a market for OTC and Rx products, dietary supplements, and medical devices. At the same time, many foreign companies are looking for partners to localise their developments.
Petrovax is one of Russia’s largest exporters of pharmaceuticals and vaccines, supplying 12 countries in the EAEU, the Middle East, and the European Union. The company partners with renowned international leaders such as Pfizer, Abbott, and Boehringer Ingelheim. Petrovax has been successfully cooperating with them on localising the manufacturing of high-tech medicines in Russia and the transferring of full-cycle technologies. The company’s strategy includes entering new markets and expanding its global presence.