India surpasses Germany as Russia's top medicine supplier, delivering 294 million packages in 2023
In a significant development, India has emerged as Russia's primary pharmaceutical supplier in 2023, a position previously held by Western companies.
FollowIn a significant development, India has emerged as Russia's primary pharmaceutical supplier in 2023, a position previously held by Western companies. This significant shift, as documented by RNC Pharma, saw Indian exports surpass those of Germany, which had been Russia's top supplier in 2021 and 2022.
Germany's pharmaceutical exports to Russia dropped by approximately 20% in the preceding year, amounting to 238.7 million packages. In contrast, Indian manufacturers bolstered their exports by 3%, delivering around 294 million packages of pharmaceuticals to Russia.
The alteration in pharmaceutical supply dynamics can be attributed partly to the response of Western pharmaceutical firms to the Ukraine conflict. Many of these companies suspended non-essential operations and investments in Russia. Additionally, major international players such as Eli Lilly, Bayer, Pfizer, MSD, and Novartis ceased new clinical studies in the country.
Conversely, Indian pharmaceutical companies are actively expanding their presence in the Russian market. This includes initiatives like joint ventures, as reported by RT.
“Other key supplying countries include France, from where 149.3 million packages were imported to the Russian market (an increase of 7.6%), Hungary (112.5 million packages – 11.6% more than a year earlier) and Belarus. The latter increased supplies by 6.9%, to 109.8 million packages. The decline among large suppliers of drugs to Russia occurred in the UK (by 10.5%, to 63.2 million) and Poland (by 16.5%, to 60.9 million). Among the countries that began deliveries to Russia for the first time last year is the UAE, from which 35.7 thousand packages were imported, Armenia (1.6 thousand) and Cuba (1.5 thousand),” the RBK article reads.
According to RNC Pharma's findings for 2023, Teva, an Israeli pharmaceutical company, exported 149.8 million packages to Russia, marking an 11% increase from the previous year. Following closely in second place is India's Dr. Reddy's, which saw a 12% rise in supplies, amounting to 110.1 million packages of drugs.
Furthermore, Mumbai-based Oxford Laboratories experienced a remarkable 67% surge in its supplies to Russia, reaching 4.8 million packages in 2023. Oxford Laboratories specializes in cardiovascular, erectile dysfunction, ophthalmology, and various other medications. Similarly, Ipca Laboratories, another prominent Indian pharmaceutical company known for its generics, witnessed a notable 58% increase in exports last year, reaching 13.7 million packages.
