The turnover of pharmaceutical enterprises in Moscow surged by a remarkable 20.2% during the first half of 2024 compared to the same period last year, reaching an impressive total of 242.2 billion rubles, as announced by Maria Bagreeva, the head of the Department of Economic Policy and Development of Moscow.
The pharmaceutical industry in Moscow is truly flourishing, accounting for over 7% of the non-energy sector’s turnover in the capital’s manufacturing industries. With a focus on import substitution, Moscow’s pharmaceutical companies are expanding their production capabilities, increasing the output of medicinal products that can effectively compete with imported ones. In the span of January to June 2024, the turnover of the pharmaceutical industry in the capital experienced a remarkable growth of over 20%, surpassing 242 billion rubles. In fact, Moscow’s share in the overall turnover of Russian pharmaceutical manufacturers for the first half of 2024 was nearly a third. Bagreeva’s words, as quoted by the department’s press service, confirm this outstanding achievement.
Furthermore, Bagreeva also highlighted that manufacturers of drugs and materials used for medical and veterinary purposes contributed significantly to the industry’s turnover, accounting for more than 77% or 187.3 billion rubles. This represents a growth of 18.8% compared to the first half of 2023. In addition, manufacturers of pharmaceutical substances exceeded last year’s figures by an impressive 25.5%, generating almost 55 billion rubles, which accounts for approximately 23% of the total turnover.