The turnover of Moscow's pharmaceutical enterprises increased by more than 20%
The turnover of industrial enterprises in the pharmaceutical sector of the Russian capital reached 242.2 billion rubles in the first six months of 2024. This was reported by Maria Bagreeva, Deputy Mayor of Moscow, Head of the Department of Economic Policy and Development of the city.
“Pharmaceutical production is one of the leading sectors of the Moscow industry: it accounts for more than seven percent of the turnover of the non-energy sector of the capital's manufacturing industries. The pharmaceutical companies in the conditions of import substitution are expanding production, increasing the output of pharmaceutical products, including those that can compete with imported ones. In the first six months of 2024, the turnover of the capital's pharmaceutical industry increased by more than 20% in comparable prices and amounted to over 242 billion rubles. According to the results of the first half of 2024, the share of Moscow in the total turnover of Russian pharmaceutical manufacturers amounted to almost one third”, - said Maria Bagreeva.
Manufacturers of pharmaceuticals and materials used for medical and veterinary purposes accounted for more than 77% of the industry turnover, or 187.3 billion rubles. This is 18.8% more than in the first six months of 2023. About 23% — almost 55 billion rubles — manufacturers of pharmaceutical substances earned, exceeding last year's figure by 25.5%.
Almost 90% of the turnover of the capital's pharmaceutical industry is accounted for by large and medium-sized businesses. In the first half of 2024, it reached 215.3 billion rubles, which is 31.2% more than in the same period of the previous year.
“On behalf of Sergey Sobyanin, the city is improving the investment climate for industrialists. The pharmaceutical industry in Moscow has been growing steadily for a long time. Thus, in five years the output of medicines and medical devices in the capital has increased 3.7 times. Today there are more than 300 enterprises producing medicines, medical equipment and products. Also scientific research and development are actively carried out. These companies make a significant contribution to increase the share of domestic drugs in the domestic market, which helps to strengthen sovereignty in this area,” added Maxim Liksutov, Deputy Mayor of Moscow for Transportation.
The development of the capital's pharmaceutical industry is the result of effective joint work of business and the Moscow Government. Pharmaceutical companies have access to a wide range of support measures, including preferential lending for working capital and investment purposes, preferential land lease rate for localization of production and other measures.
Manufacturers of pharmaceuticals and medical devices account for half of the 22 offset contracts concluded by the city. This provides the construction by an investor of a new production or modernization of existing production in return for the city's obligations to purchase goods or services from this manufacturer for a long time. Earlier Sergey Sobyanin said that offset contracts help to develop the pharmaceutical industry of Moscow.
