Business news

MINSK, 4 October (BelTA) – Russia buys two thirds of the medications Belarus exports, BelTA learned from Belarusian Healthcare Minister Valery Malashko before the joint session of the boards of the Belarusian and Russian healthcare ministries on 4 October. The session was held to discuss oncology matters.

The Russian Federation is the main destination for Belarusian pharmaceutical exports and accounts for about 60-70% of the total export. “The Russian Federation market is oversaturated yet distributors take our medications because they offer a good value for money,” said the official.

Belarus exported $80 million worth of medications to Russia in 2016 and $28 million worth of medications in Q1 2017.

According to the source, there are no problems with selling more Belarusian medications to Russia now. Conditions for advancing successful and mutually beneficial cooperation in the shipment of medications onto the Belarusian and Russian markets have been enabled. At the same time merging some lineups of medications could be useful before trying to penetrate third-country markets.

Medications are exported to Russia using registration certificates. At present Belarusian companies export medications of their own make using 166 registration certificates. Of them 82 medications are on the list of vital and most important medications.