According to the Ministry of Industry and Trade, Russia’s pharmaceutical production saw a 15% growth in the first half of 2024 compared to the same period in 2023. This growth marks the highest rate observed in the last two and a half years. The total production value of finished pharmaceutical products in Russia during the first two quarters of 2024 amounted to 396 billion rubles. This figure reflects the manufacturer shipment prices, including VAT.
The significant growth can be largely attributed to the improved state support measures and the modernization of production facilities, both of which have strongly boosted the country’s pharmaceutical output. During this period, Russian companies produced over 2 billion packages of finished pharmaceutical products, totaling 41 billion minimum dosage units (MDU). The long-term dynamic growth in packaging stood at 3%, while the growth in MDUs was recorded at 5.3% compared to the first half of 2023.
Specifically, June 2024 showed a 17.3% year-over-year growth in the monetary value of produced pharmaceuticals, totaling 70.5 billion rubles. Despite this, the overall level of production activity was rather low, as evident by the long-term decline of 3.2% in packaging and a minor decrease of 0.3% in MDUs. Despite the negative trends in the natural volumes of production in some months, the overall growth in the pharmaceutical sector remains robust due to the steady increase in the production of prescription medications.