Peter Bely: "Government support for new markets will help warm up the domestic pharmaceutical industry"

"Pharmaceuticals can and should be financially self–sufficient," said Peter Bely, Chairman of the Board of Directors of Promomed Group, at the session "Strategy Implementation Tools: Does Pharma need budget money?" at the BIOTECHMED conference in Gelendzhik.

According to him, the Russian pharmaceutical industry does not need subsidies or other non-refundable forms of financial support. Domestic companies can and should invest in their own development. "But this does not mean that the industry does not need government support. It is necessary for faster opening and development of new markets, so that pharmaceutical companies can take risks, invest, launch new drugs, develop new technologies and molecules – this will really support the warming up of the national pharmaceutical industry," said Petr Bely.
In 2020, Promomed Group used the FRP (Industrial Development Fund) mechanism. At that time, the Russian Ministry of Industry and Trade supported the construction of a new ampoule production facility, and Denis Manturov, Minister of Industry and Trade, took part in the opening ceremony."As we heard at the plenary session yesterday, the mechanism will be continued and improved, and this has tremendous potential to support pharma, as it provides an opportunity to implement long-term and large-scale projects. Such support in the form of long-term loans at a low rate reduces the risks of companies, and in our case, it allowed us to launch the antitumor drug Areplivir in an extremely short time," added Peter Bely.

The speaker gave an example of government involvement that would ensure a technological breakthrough – a large–scale infrastructure project - the Mordovian regional Industrial and Research cluster of biotechnologies of federal significance, the concept of which is currently being developed by the Government of the Republic of Mordovia. Promomed Group of Companies plans to be an anchor customer in this center for general-use biotechnologies.

The session was moderated by Vasily Osmakov, First Deputy Minister of Industry and Trade of the Russian Federation. The session was also attended by Sergey Glagolev, Deputy Minister of Health of the Russian Federation, Timofey Nizhegorodtsev, Deputy Head of the Federal Antimonopoly Service, as well as heads of pharmaceutical companies.