Fabrice Egros, Deputy CEO of NovaMedica, on BIO-2013: "NovaMedica is an integral part of the Russian Government’s Healthcare strategy "

Print 25 April 2013

"...Today we are talking about one of the largest country where pharmaceutical industry is developing very fast – we are going to talk about Russia. 

The Russian pharmaceutical market is growing by double digits which is not happening  in a lot of countries. If we look at the market size ranking according to IMS data we see that Russia in 2006 was ranked at the 14th place, in 2011 it was the 11^th, and the projection is it will be the 8^th beside of Italy in 2016 and the growth will continue.  There for Russian pharmaceutical market is a market of new possibilities for innovative product development.

The Russian Government is investing into such change: for instance, project to implement a drug reimbursement system that will fuel outstanding growth and will incentivize local manufacturing.

The Government is committed to invest into the Healthcare Sector by implementing “Russia 2020 Strategy”. One of the point of this strategy, beyond the investment, is also that the population will be covered by insurance and that is an important factor - increasing coverage of population through introduction of a willing model for drug insurance.

The next point is the overall government spend on healthcare will grow more than 3 times – from $60 bln to $206 bln. It will allow new therapies to be developed, approved and address unmet needs.

The Russian Government is asking for companies to upgrade plants to meet GMP requirements. Also substantial additional points are a strong focus on prevention and early detection of diseases, development for out-patient services as well as increasing  the quality of medical support to the  population.

And our new pharmaceutical company NovaMedica is an integral part of this Russian Government’s Healthcare strategy within “Russia 2020” that will boost growth in the pharmaceutical market for the next 10 years. Our goal is to provide Russia with innovation by bringing to the domestic market new drug development: NovaMedica will select, develop, produce and commercialize this advanced compounds in Russia and Eurasian markets. 

NovaMedica is a company that is building alliances for successful innovative specialty products in Russia and Eurasia. It is a joint venture between Domain Associates, one of the market leading U.S Life Sciences venture capital firm, and RMI LLC, a healthcare-dedicated investement subsidiary of Rusnano.

Together these two private and public shareholders are created a new company to exclusively develop, produce and commercialize those highly innovative products that have significant outcome for patients in Russia and Eurasia.

Our concept is to be one of the bridge for Western Partners to enter the Russian Market for innovative medicines and health technologies. NovaMedica, in addition to manufacturing our own “Domain driven“ new products, is also planning to support and work with strategic partners." 

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