CPhI Russia @IPhEB returns to the Russian capital – taking place at the Jsc vdnh (VVC), Moscow 28th-30th March – as the Government’s Pharma 2020 plan continues to stimulate demand for international pharmaceutical ingredients, manufacturing and packaging equipment. The event’s 4th edition will see the P-MEC zone, for pharma machinery specialists; the Innopack zone for pharma packaging professionals; and include the content-led IPhEB Conference (Forum) along with numerous networking opportunities.
Collectively, the partnerships and deals struck at CPhI Russia have helped establish Russia at the forefront of pharmerging markets and it is expected to reach a value of $31.2 billion by 2019. This, coupled with a Government commitment to invest nearly $5 billion in funding to bring existing manufacturing sites to GMP standards, is driving increased interest in the event. Under the new plan, foreign investment is also encouraged through a fast-track approval process and tax incentives.
The country has attracted a strong base of international pharma companies – an overwhelming 76% of total pharmaceutical sales are attributed to imported drugs – with many more foreign manufacturers now looking to capitalise on this attractive market. Integral to the internationalisation of this market is CPhI Russia, which acts a central hub for buyers and sellers within the region, providing a vital platform where pharma executives can connect, build and nurture existing relationships. With a limited API manufacturing base, the country also presents strong partnership and supply opportunities for manufacturers from China and India.
“We are seeing a steady growth in three main areas driven by a gentrifying healthcare sector, a rising local population and government support for domestic manufacturing. Currency variation aside, the pharma market is growing at just under 10% year-on-year and distributers, APIs manufacturers and machinery providers are seeing high demand across Russia and CIS countries. Traditionally, Russia has been a hard market to enter and that is why CPhI Russia has become so intertwined with the market’s growth.” Commented Orhan Caglayan, Brand Director at CPhI Russia.
The event will gather more than 3000 attendees from 64 countries, and 199 exhibitors to network and do business with the top pharma ingredients, manufacturers, packaging experts, and machining specialists in the region. Attendees are able to gain in-depth insights from the International Forum, a dedicated matchmaking program, speaker sessions, and other networking opportunities.
“The Russia pharma market has yet to reach its full potential and by bringing together regional companies with C-level executives, we hope to speed its development. The unique content and market analysis at the event are essential in helping both domestic and international companies evaluate best opportunities for partnerships and growth”, added Caglayan.
