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Advice You - Russia At A Glance - Why Do You Need To Invest In Russia?
Russia is still an emerging market and the challenges are plenty. However, the
country’s economic growth has been remarkable, with an av
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
erage seven percent GDP growth backed by the favorable energy situation on the world markets, tighter government budget policy, and faster
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
evelopment of other key industry sectors, such as machinery, automotive, info-communication, construction and food processing. The Russian
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
government introduced positive changes into the tax system; including a flat rate of 13% for personal income tax, reducing the corporate t
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
x rate from 35% to 24%, and reducing the value-added tax (VAT) to 18%. Surpassing even some developed economies, Russia reduced its public
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
debt to 13% of its GDP . Finally, Russia’s evolving middle class creates a strong consumption wave that is a tremendous boost for the Russ
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ian economy.
Yet, Russian economic problems and challenges are well-known: corruption and bureaucratic red-tape hampers foreign investme
Yet, Russian economic problems and challenges are well-known: corruption and bureaucratic red-tape hampers foreign investme
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
t and small business development, while omnipresent piracy hits hard the image of Russia’s intellectual property environment. And on top o
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
this, demographic decline will be a negative factor for the future generations of Russians.
Let’s have a glance at some major achievement
Let’s have a glance at some major achievement
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
s for the past decade. The financial instability and shock of foreign investors after the “Black Tuesday of 1998” changed to favourable ad
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ittance of positive changes – most of Russia’s international credit rating institutions gradually moved Russian ratings to the higher hiera
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
chy, unthinkable just a few years ago.
The infamous Paris Club debt was fully paid well before its deadline, while the newly created Russi
The infamous Paris Club debt was fully paid well before its deadline, while the newly created Russi
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
an Stabilisation Fund brought the first interest rate profits. After years of having its currency under strict government control, the Rus
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ian government made the ruble fully convertible. Incredibly, the resurgence of the Russian economy from the shock and shambles of 1990’s d
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
sastrous privatisation, is reflected by its jump into the third position as the country with top Foreign Currency reserves (after China and
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
Japan), with over USD 290 billion as of December 1, 2006. Importantly, in 2004 the Russian stock market grew by sixty percent and crossed
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
the 1,000 point barrier and in fall of 2006 surpassed 1,600 points.
According to OPEC, Russia has also overtaken Saudi Arabia as the worl
According to OPEC, Russia has also overtaken Saudi Arabia as the worl
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
’s largest oil producer. While superb oil and gas sector revenues are accountable for major and sustainable economic growth, other industr
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
y sectors are claiming their place under the sun. Among them, the information technology and communication sectors provided an incredible
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
rowth.
Read more about why do you need to do business in Russia in my new book at:
www.russiantechboom.com or www.russia.futuretext.co
Read more about why do you need to do business in Russia in my new book at:
www.russiantechboom.com or www.russia.futuretext.co
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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