Russia market seen as key gateway to CIS economies thanks to harmonisation
Amsterdam, 09 June 2015: CPhI Russia @ IPhEB, organised by UBM EMEA and RESTEC, closes its third successive event in the nation's capital with a record number of attendees.
The regional and global Pharma community, including over 3000 attendees from 60+ countries and over 230 exhibitors from 30+ countries, gathered together in Moscow for CPhI @ IPhEB. A key trend to emerge from the event was rising investment opportunities in the domestic market, with international companies looking to partner with or acquire local facilities.
This influx of foreign interest is a direct result of the Russian Drug Authority's declaration to have 80% of the total pharmaceutical market supplied through local manufacturing sites by 2020. This is consequently generating greater investment into domestic facilities both from overseas companies and domestic investors.
Another emerging dynamic from the show is a gradual shift towards increased Pharma partnerships and acquisitions as foreign manufacturers look to not only drive business from within the Russia, but also utilize this thriving market as a gateway to nearby CIS economies. Highlighting the internationalization of the Russia Pharma market, CPhI Russia @ IPhEB hosted over 800 meetings with senior executives, many between transnational Pharma companies and regional suppliers.
Supporting these findings, the major focus throughout the Conference Forum was the increased harmonisation witnessed between Eurasian economies. The result is that as requirements for product registration and clinical trials become more standardised across neighbouring regions, Russia becomes increasingly appealing for nearby trade opportunities.
Erik Heemskerk, Brand Director Pharma at UBM EMEA, commented: "Moving CPhI Russia @ IPhEB to the nation's capital was a great step in the continued evolution of our event portfolio. This was only the third consecutive year for CPhI Russia @ IPhEB and we have already seen impressive growth.
The increased harmonization between CIS regions has highlighted Russia as a major target area for growth and we can expect many more partnerships to form between foreign and domestic companies. CPhI Russia @ IPhEB is the first meeting point for many of these and is therefore essential for regional growth.
We look forward to returning for next year's event to provide an even greater edition."
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Notes to editors
About CPhI
CPhI drives growth and innovation at every step of the global pharmaceutical supply chain from drug discovery to finished dosage. Through exhibitions, conferences and online communities, CPhI brings together more than 100,000 pharmaceutical professionals each year to network, identify business opportunities and expand the global market. CPhI hosts events in Europe, Korea, China, India, Japan, Southeast Asia, Istanbul and Russia, and co-locates with ICSE for contract services, P-MEC for machinery, equipment & technology, InnoPack for pharmaceutical packaging and BioPh for biopharma. CPhI provides an online buyer & supplier directory at CPhI-Online.com.
For more information visit: www.cphi.com
The UBM EMEA annual schedule of Pharmaceutical events includes; CPhI Istanbul (3-5 June, 2015, at the Lutfi Kirdar Convention and Exhibition Centre- Turkey); CPhI, Hi and Fi, ICSE, P-MEC, BioPh and LabWorld China (24-26 June, 2015 at SNIEC- Shanghai, China); CPhI, ICSE Korea (7-9 September, 2015 at the COEX- Seoul, South Korea); CPhI, ICSE, P-MEC and InnoPack Worldwide (13-15 October 2015, IFEMA- Feria de Madrid, Spain) CPhI, P-MEC, ICSE and BioPh India (1-3 December, 2015 at the Bombay Convention and Exhibition Centre, Mumbai, India); CPhI, P-MEC and Innopack South East Asia (06-08 April, 2016 at the Jakarta International Expo- Jakarta, Indonesia); CPhI, ICSE, P-MEC, BioPh and InnoPack Japan (TBC April, 2016 at the Big Sight Exhibition Centre- Tokyo).
About UBM EMEA
UBM EMEA connects people and creates opportunities for companies across five continents to develop new business, meet customers, launch new products, promote their brands, and expand their market. Through premier brands such as TFM&A, Internet World, IFSEC, MD&M, CPhI, Cruise Shipping Miami, the Concrete Show, and many others, UBM Live exhibitions, conferences, awards programs, publications, Websites, and training and certification programs are an integral part of the marketing plans of companies across more than 20 industry sectors.
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