IMPORT SUBSTITUTION IN THE RUSSIAN PHARMACEUTICAL INDUSTRY: CHALLENGES AND UNSOLVED ISSUES

Resumen

Background: This article considers the specifics of import substitution in the Russian pharmaceutical market, discusses the state industrial policy, prospects, and trends in the development of the Russian pharmaceutical industry in the context of sectoral sanctions and the need to accelerate the process of import substitution. Objective: The study aims at revealing and analyzing the development of the pharmaceutical industry with due regard to the needs of the Russian market. Methods: The authors of the article analyzed the Strategy for the development of the pharmaceutical industry of the Russian Federation for the period until 2030. The study was based on statistical indicators of the Russian pharmaceutical industry and state policies forming an institutional framework for the substitution of drugs purchased from other states. Results: The study has highlighted the strategic importance of import substitution for the purposes of national security in the context of geopolitical instability. As a result, Russian pharmaceutical companies are rapidly localizing foreign production. The driving force of this process is state support and long-term strategic development programs. Conclusion: In modern conditions, import substitution is the result of the well-coordinated activities of all the parties involved. A key aspect of implementing such a policy is its consistency with ongoing institutional changes. The most promising approach is to build enterprises with the full production cycle of medicines.