Putin expects big pharma presence in Russia

If you want the rubles, relocate to Russia. That's the message to drugmakers from Russian Prime Minister Vladimir Putin.

Pharma companies and medical equipment makers will face business restrictions unless they locate production in Russia and transfer technology, he told cabinet members. He likens the situation to that of car makers; the government forced them to set up production through a combination of higher import duties and consumer incentives

Russian plans to invest $3.8 billion (120 billion rubles) before 2020 to develop its pharma industry, notes Reuters. Some big pharma companies are already planning their own investments.

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