Kazakh companies expand in pharmaceutical market in Russia

Sep 7, 2018 12:06 pm

Kazakh pharmaceutical companies operating in Russia recently passed traditional market leader Belarus in market share

Belarus has been a recognised leader in pharmaceutical market in Russia for the last five years.

“There is nothing to be surprised at. Quality is valued most in pharmacology. The matter in question is people’s health. Kazakhstan has 20 years of experience; therefore, its products are among market leaders. I am not saying that companies from Belarus are giving up, but it is a healthy competition and Kazakhstan’s position is certainly stronger,” said Darya Malovichko, a manager at a Belarusian pharmaceutical company.

Belarusian companies, however, remain leaders in the Eurasian Economic Union countries overall.

“Our data shows that share of supplies from Belarus to Russia reached 70 percent within last six months. The same figure was 92 percent last year. Share of Kazakhstan rose from seven to 29 percent. This is a serious boost for both countries. Kazakhstan maintains its position,” said business analyst Izolda Tselinichenko.

Kazakhstan’s domestic pharmaceutical market is young, starting its development in mid-1990s and witnessing dynamic growth since then.

Last year, the Kazakh pharmaceutical industry increased production by 79.8 percent over 2016, while prices for pharmaceutical products also grew 6.6 percent over the same period.

Such large companies as AbdiIbahim GlobalPharm, Kelun-KazPharm, Dolce, Zerde-Fito, Chimpharm, Nobel Almaty Pharmaceutical Factory, Aurora, Cheminnova Alimor Kazpharm, Rapid-Alimor Pharm Industries, Dosfarm have plants across the country.

Source URL: http://eurasiatx.com/kazakh-companies-expand-pharmaceutical-market-russia/