India surpasses Germany as Russia's top medicine supplier, delivering 294 million packages in 2023
- In Reports
- 09:35 PM, Mar 28, 2024
- Myind Staff
According to reports from Russian media, in 2023, India emerged as Russia's leading pharmaceutical supplier, taking over the position previously held by Western companies. Data compiled by RNC Pharma indicated this significant development.
The surge in Indian pharmaceutical exports resulted in displacing Germany, which had been Russia's top supplier in 2021 and 2022. While Berlin reduced its supplies to Russia by approximately 20% last year, down to 238.7 million packages, Indian manufacturers increased their exports by 3%, delivering around 294 million packages of pharmaceuticals to Russia.
The changes in pharmaceutical supply dynamics towards Russia can be attributed, in part, to the actions taken by Western pharmaceutical businesses in response to the Ukraine conflict.
Several of these companies have suspended non-essential operations and investments in Russia. Additionally, major international pharmaceutical companies such as Eli Lilly, Bayer, Pfizer, MSD, and Novartis have halted new clinical studies in the country.
Meanwhile, Indian pharmaceutical companies are expanding their business interests in Russia, including through joint ventures, as reported by RT.
Other significant pharmaceutical suppliers to Russia include France, which saw imports of 149.3 million packages (a 7.6% increase), Hungary with 112.5 million packages (an 11.6% increase), and Belarus, which increased supplies by 6.9% to 109.8 million packages. However, there was a decline in drug supplies to Russia from the UK (down 10.5% to 63.2 million) and Poland (down 16.5% to 60.9 million). Notably, countries such as the UAE, Armenia, and Cuba began delivering pharmaceuticals to Russia for the first-time last year, with imports ranging from 1.5 thousand to 35.7 thousand packages.
According to RNC Pharma, in 2023, Teva from Israel exported 149.8 million packages to Russia, marking an 11% increase compared to the previous year. Following closely behind is India's Dr. Reddy's, which saw a 12% rise in supplies, reaching 110.1 million packages of drugs.
RNC Pharma's data also shows that Mumbai-based Oxford Laboratories experienced a significant surge in its supplies to Russia, increasing by 67% in 2023 to reach 4.8 million packages. The company's product range includes medications for cardiovascular issues, erectile dysfunction and ophthalmology, among others. Ipca Laboratories, another major Indian pharmaceutical company specialising in generics, witnessed a 58% increase in exports last year, reaching 13.7 million packages.
Image Source: Sputnik News
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