The pharmaceutical market, one of the most auspicious sectors of the Ukrainian economy, is constantly developing and has proved to be attractive both for Ukrainian companies and for foreign investors. According to the statistical data the last few years the annual increase in volume of pharmaceutical market has been making 25 % on the average, whereas in 2008 this rate increased to 28%. Ukraine traditionally owns a strong scientific and research base in this area of Śconomy. In addition, there are considerable pharmaceutical production capacities in Ukraine.
Presently, Ukrainian pharmaceutical enterprises generally meet international standards of GMP (Good Manufacturing Practice) quality, which has had a positive impact on the quality of pharmaceutical products. One should not overlook the clear tendency of Ukrainian pharmaceutical companies to merge or cooperate with international market players. It allows them to utilize production capacities more effectively, extend the range of pharmaceutical products, and also stimulates investments in new developments.
Konnov & Sozanovsky's lawyers provide complex legal services for pharmaceutical enterprises including advice on day-to-day activity, labor matters, commercial issues, tax planning etc.. We represent pharmaceutical companies in relations with the state authorities and accompany transactions on mergers and acquisitions of pharmaceutical companies. Our lawyers possess considerable experience in protection of intellectual property rights of pharmaceutical companies, including rights in trade marks, inventions etc; and also represent clients’ interests in courts of all jurisdictions.
The pharmaceutical market is one of the most dynamically developing segments of the Russian Federation’s market, attractive for both Russian and foreign investors. According to the marketing agency DSM Group, 2008 was the year of rise and unprecedented growth of the pharmaceutical market in Russia. Market capacity amounted to 18.4 billion US dollars, which is 25% higher than that in 2007.
The state segment also demonstrated growth. To a great extent it is associated with the Program of additional pharmacological support, the purpose of which is to ensure the availability of quality medical and pharmacological assistance to persons entitled to benefits in Russia. In 2008 the given Program was subsidized by nearly 2.9 billion US dollars.
The parapharmaceutical market growth rate corresponded to the general market dynamics; in 2008 this segment increased by 28% and amounted to 4.05 billion US dollars. The largest segments of parapharmaceuticals are beauty products and biologically active additives.
Drug import volume in Russia in 2008 amounted to 10 billion US dollars, which is 36% higher than that in 2007. The wave of mergers and acquisitions continued in the manufacturing segment as manufacturers tried to strengthen their position on the market.
Konnov & Sozanovsky’s lawyers provide complex legal services for pharmaceutical enterprises and render legal advice on separate issues, in particular, those tied with the receipt of various permits and licenses. We represent pharmaceutical companies in relations with governmental bodies and accompany transactions on mergers and acquisitions of the companies, working in this sector. Our lawyers possess considerable experience in protection of intellectual property rights of pharmaceutical companies, including rights to trade marks, inventions etc., and represent clients’ interests in courts.