The Ministry of Industry and Trade of the Russian Federation has developed a new mechanism to support the pharmaceutical industry, providing subsidies to Russian manufacturers of drugs for human use for the development of medicines that are protected in the Russian Federation by foreign patents, and for obtaining registration certificates for the resulting medicines. This was reported in the press service of the Ministry of Industry and Trade.
“It is important to note that further commercialization of the results will be possible only if the foreign companies which hold patents for the original drugs leave the market. Recipients of the subsidy will be able to compensate up to 100% of labor costs, purchase of equipment (except for production equipment), costs of materials and software, as well as intangible assets, overheads, and expenses for third-party services,” the message says.
It is planned that the implementation of the mechanism is on the basis of the Decree of the Government of the Russian Federation No. 1649 dated December 12, 2019 “On Approval of the Rules for Granting Subsidies from the Federal Budget to Russian Organizations to Compensate for Part of the Costs of Conducting Research and Development Work on Modern Technologies within the Framework of the Implementation of Innovative Projects by such Organizations and on the Invalidation of Certain Acts of the Government of the Russian Federation”. The law is going to be amended accordingly.
As it became known earlier, pharmaceutical companies will be provided with preferential bank guarantees.
