Russian drug prices soaring

RUSSIA / FSU POLITICS - In Brief 04 May 2020 by Alex Teddy
On April 29 Russian newspaper Vedomosti reported that prices for medicines are soaring. On certain routes transport costs are up sixfold due to coronavirus. This would make some medicines loss makers for manufacturers. Supply chains have been disrupted. Some Russian pharmaceutical manufacturers are struggling to obtain ingredients. Over 75% of ingredients come from India or China. Cancer medicines have been particularly badly impacted.The RUB's loss of value has driven up prices up by 15%. The RUB has since stabilized. Factories are reopening but price rises are still likely. There is a production backlog to address. Nanolek is one of the companies that has warned of this. Ibuprofen and paracetamol are about to become loss making in Russia.The prices of drugs in public hospitals is set by the government. But price rises will hit pharmacies.

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