Straight from Russia

Straight from Russia

Happy New Year to everybody reading my first post on Trade Secrets! 2013 was a successful, rewarding and promising year for many of us in biotech. In particular, it was another year of a double-digit growth in Russia. Russia’s healthcare market is expected to reach US$100 billion in 2014 with over US$30 billion spent on pharmaceuticals. This is being driven by a growing economy, as well as both foreign and local private investments, and increasing support from the Russian government. Major Big Pharma players have realized the potential in Russia and collectively have recently announced their plans to invest over US$1 billion into manufacturing facilities (the group includes Novartis, AstraZeneca, Novo Nordisk, and Takeda) and to seek partnerships here.  Read more