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Head of GEROPHARM, Group of Companies took part in a business mission in Egypt

28 May 2015

Petr Rodionov, General Director of GEROPHARM, Group of Companies, took part in a business mission “Trade and Industrial Dialogue: Russian-Egypt” in Cairo on May 25-26.

The aim of this business mission was to further develop and strengthen trade and economic relations between Russian and Egypt, strengthen business contacts, expand and diversify trade and economic cooperation.

The event included a bilateral meeting of D.V. Manturov, Minister of Industry and Trade of the Russian Federation, and public officials of the Arab Republic of Egypt as well as business representatives from both countries.

The trip was organized within the system of achievements showcasing and support of Russian pharmaceutical and medical products roll-out to the international markets. Such products also included goods manufactured under the Federal Target Program “Development of the Pharmaceutical and Medical Industry in the Russian Federation up to 2020 and Beyond”.

Special attention was paid to export and import potential of cooperation development in the field of pharmaceuticals and medical equipment. Due to administrative barriers created by the Egyptian authorities, access of Russian drugs to the Egyptian market is currently significantly hampered. At the same time, the Egyptian market is promising also because it is considered as a “gateway” to markets of Africa and the Persian Gulf with population of more than 1.5 billion people.

“Over the last 4-5 years Russian pharmaceutical industry has suffered qualitative changes. Adoption of “PHARMA 2020” has allowed to close a significant technological gap and nowadays 67% of drugs from the VED list is produced in Russia,” said Head of GEROPHARM Group Petr Rodionov in his speech and added, “We can now speak of a new pharmaceutical industry with its own developing corporate science, infrastructure and the world’s latest technologies which allow to manufacture drugs on the basis of a full cycle from a gene design up to launch of a high quality drug.”

He noted that making development of biotechnologies a priority, GEROPHARM Group created an efficient technology for production of genetically engineered insulin, as well as great technology platform to introduce its analogues to the market. Full cycle insulin production with maximum local content that meets GMP standards improves drug security and also ensures high export potential of the product.

Currently a facilitation of access of Russian drugs to the Egyptian market and inclusion Russia in the List of Reference Countries are actively discussed thought bilateral meetings at the highest levels.

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