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VIC Group: The lack of access of vet pharmaceuticals producers to preferential loans severely restricts import substitution

Sergey Kaspariants, Executive Director of VIC Group, spoke at a round table of the Federation Council on strategic priorities for the domestic pharmaceutical industry development. The event, organized by the Economic and Social Policy Committees, took place on June 23.

The round table participants included members of the Federation Council and the State Duma, heads of relevant departments in the Russian Ministry of Industry and Trade and the Ministry of Health of Russia, Federal Service for Supervision in Healthcare, leading Russian business associations, as well as member-companies of the National Champions Association.

In his speech, Sergey Kaspariants argued that the lack of access to preferential loans for the industry severely restricts import substitution and makes the introduction of high-tech and innovative projects practically inaccessible. The head of VIC Group, a member of the National Champions Association, also noted that the veterinary pharmaceutical industry does not receive support from the Ministry of Industry and Trade of Russia, since the agency places this area in the responsibility of the Ministry of Agriculture. Yet, the Ministry of Agriculture of Russia does not consider producers of veterinary medicines to be agricultural producers, and therefore does not provide them with any support either.

The participants of the round table noted that entire sub-sectors of the pharmaceutical industry, not only the production of veterinary drugs, found themselves in a difficult situation without state support, "stuck" between several departments.

They also discussed the need to develop new approaches and to accelerate decision-making due to the risks of withdrawal from the Russian market of a number of major foreign players, as well as to introduce tax incentives for private spending on research and development, which is necessary to establish full-cycle pharmaceutical companies and introduce innovations.