Danish pharmaceutical producers are taking advantage of Russian health reforms, including subsidised prescription drugs
Danish pharmaceutical producers are experiencing growth rates in Russia that are twice as high as the rest of the market and are expected to set records for 2006. According to the business department at the Danish embassy in Moscow, the Russian pharmaceutical market was worth USD 7.4bn in 2005, and is increasing as much as 12 percent annually. Danish pharmaceutical companies exported a total of USD 1.4 bn to Russia in 2005, a growth of 35 percent from 2004, daily newspaper Berlingske Tidende reported. This year is also shaping up to be a promising one. In the first two months, official medical exports totalled USD 22.2m, over 50 percent more than in the same period the year before.
'Danish companies are winning market share and are doing much better then the market itself,' said Christian Mortensen, commercial attaché for the Danish embassy in Moscow.
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