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Russian pharma: from distribution to biotech

Overview

Russia’s pharmaceutical sector is aberrant in several respects. Total pharmaceutical spending relative to GDP is well below the OECD average, as this has not been a government priority. As a result, private demand untypically accounts for the bulk of the drugs market. Despite being thus embedded into Russia's dynamic new retail sector, pharmaceuticals fail to ride the middle-class consumer boom, since much of the natural demand comes from older and poorer people with less purchasing...

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