Belarus will be able to more effectively promote its products abroad with the establishment of a pharmaceutical holding, Viktor Shein, Deputy Director of the Department of Pharmaceutical Industry – Head of the Economics and Marketing Department of the Ministry of Health, told journalists, as reported by a BELTA correspondent.
In Belarus, in accordance with Decree No. 258, a holding company for the production of pharmaceutical products is being established. It will unite not only state-owned manufacturers but also private entities, other ministries and departments on a functional basis, and representatives from wholesale and retail trade.
Viktor Shein noted that some domestic pharmaceutical enterprises produce a number of similar products. Competing with each other in the domestic market and when supplying abroad, they have to reduce prices under current conditions. As a result, the profitability of both the enterprises themselves and the inflow of foreign currency revenue to the state treasury as a whole decreases.
With the establishment of the holding company, more effective cooperation schemes will be found. This concerns finding a coordinated product range, rather than duplicating it across different production sites. "Mechanisms will be found to differentiate the product range: which enterprises will produce which products, in what volumes, and for which sales markets. This will fall on the shoulders of the holding company," Viktor Shein noted.
"We hope in this way to diversify the sales vectors for our products, which are currently supplied to more than 29 countries worldwide. This figure indicates that our products are in demand globally," said the Deputy Director of the Department. The geography of supply of Belarusian drugs is expanding, volumes are increasing, and most importantly, partners are being found in foreign markets.
In addition, representative offices are planned to be established abroad. These will be representative offices of enterprises or trading houses.
Belarusian pharmaceutical enterprises export 29% of their manufactured products. The main exporter is RUP "Belmedpreparaty".