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  • How Rafarma Pharmaceuticals, Inc. (RAFA) Plans To Emerge A Dominant Figure In The Billowing Russian Pharmaceutical Market 0 comments
    Jun 13, 2013 2:30 PM

    The Biotechnology Industry Organization (NYSE:BIO) represents more than 1,100 biotech companies, academic institutions, state biotech centers, and related organizations in more than 30 nations. As part of its initiative to "expand the boundaries of science to benefit mankind," the organization hosts its annual BIO International Convention, the world's largest biotechnology industry event.

    Attendees benefit from keynotes and sessions from leading policymakers, scientists, CEOs, and celebrities, and at the 2013 BIO International Convention in April, convention-goers got a taste of the booming Russian pharmaceutical market leveraged by "Pharma 2020," the Russian government's initiative to further develop the country's pharmaceutical/medical industry.

    "We have seen a remarkable shift in opinions about pharmaceuticals in Russia in the past few years. Pharma 2020 has already become a ubiquitous term across the world," Sergey Tsyb, director of the Department of Chemical Industries and Bioengineering Technologies at the Russian Ministry of Industry and Trad, recently told Modern Russia.

    If the progress keeps its current pace, the Russian pharmaceutical industry by 2020 (relative to the naming of the Pharma 2020 project) could be responsible for the manufacture of 50 percent of drugs in circulation, 80 percent of which would be domestically developed.

    The industry is valued at roughly $21.4 billion for 2012, driven by the Russian government goal to increase innovation, medicines, and medical technology. By 2020, the market is expected to top $60 billion, and this is a figure small-cap company Rafarma Pharmaceuticals anticipates playing a large part in.

    Operating from its 270,000-square-foot state-of-the-art production facility, the Russia-based multi-product pharmaceutical company is producing generic antibiotics and specialty pharmaceuticals in addition to its own line of proprietary products that are approved by the Ministry of Health of Russian Federation.

    Rafarma's pharmaceutical plant has the capability and space to produce all types and forms of medical drugs of various pharmacological groups, and the company earlier this month began production of the antibiotic Ceftriaxone, which according to 2011 official statistics, had a market worth estimated at more than $51 million (NYSEARCA:USD) annually. As a participant in the Russian Federal Program for "Domestic-Produced Vital Drugs," Rafarma said it intends to take as much as 50 percent of the Russian market for Ceftriaxone.

    As awareness and support of the Russian pharmaceutical market continues to grow, Rafarma is positioned to achieve its long-term goal to be one of the Top 3 players in the Russian pharmaceutical market by 2018, armed with a sprawling multi-profile pharmaceutical plant and supported by aggressive federal initiatives.

    For more information visit rafarma.com

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