Ministry of Industry and Trade: export duties on medicines hinder the development of the pharma industry

According to the Ministry of Industry and Trade, the imposition of export duties on drugs and pharmaceutical substances undermines the Russian pharmaceutical industry’s development plans. The department is strongly in favor of First Deputy Prime Minister of the Russian Federation Andrei Belousov’s statement to remove pharmaceutical products from the list of goods that are subject to duties.
The press service of the Ministry of Industry and Trade explained: as part of the implementation of the plan for import substitution in the field of drug supply, enterprises are gradually switching to the production of drugs in a full cycle, including the synthesis of pharmaceutical substances. “The creation of such production facilities requires a significant increase in consumption, and demand in the domestic market is not always stable. The solution is to expand the geography of supplies of Russian pharmaceutical substances, including to foreign markets. In this regard, export duties, of course, could hinder this process,” the department says.
The exclusion of drugs and pharmaceutical substances from the list, on the contrary, will facilitate the launch of new full-cycle drug production facilities, the press service added.