Russia still represents attractive opportunities for international pharmaceutical companies. It is the second largest market for pharmaceutical giant Nycomed Group.

In an exclusive interview, the head of Nycomed in Russia and CIS, Jostein Davidsen, shared his views on the future of the market and expressed hope that within five years Russia will become the number one market.

Jostein Davidsen: The German market is the biggest market in Europe. You have the US, Germany and Japan – the three mega markets in the world of pharmaceuticals and of course it will take some time for Russia to catch up there. Although Russia’s macro-economy is rating number six, equal to the UK, if I am not mistaken. So, we think that Russia, as a pharmaceutical market in total will be number three or five, but for Nycomed it is definitely the second biggest. Will it be number one? Well, we have to wait and see. In the short term I do not think so, but maybe in the five years – yes, it could be.

RT: The company still does not have any production facilities in Russia. Do you plan to change that?

Jostein Davidsen: It is likely that Nycomed also will evaluate, now seriously, to set up a production facility in Russia. We are actually doing it now. We have not taken the firm decision on it but I would be surprised, actually, if we do not have a greenfield pharmaceutical factory, producing all our products in Russia within the next five years.