Quintiles launches first salesforce in Russia
pharmafile | August 2, 2011 | News story | Sales and Marketing | CSO, Quintiles, Russia, emerging markets
Quintiles is set to launch its first contract sales project in Russia with a 40 strong sales team.
The company has set up a local legal entity in Russia to deliver commercial operations and has appointment Sergey Smirnov as Head of Business Development & Operations, Commercial Solutions Russia.
Russia accounts for just under a third of the total Central & Eastern European pharmaceutical market, due to its population of 142 million; however, in per capita terms, Russia is also one of the smallest markets. The Russian market is predicted to expand rapidly over the next few years (16% CAGR for prescription medicines; 11% OTC; 15% generics).
The Russian government is also implementing the Pharma 2020 Strategy, which aims to encourage growth in the pharmaceutical industry for the period up to 2020.
Jim Featherstone, Vice President, Global Commercial Strategy, Commercial Solutions says: “All of these factors mean that the Russian biopharma landscape hold significant promise. However it is a complex and challenging market to penetrate and biopharma companies globally are opting for various market entry strategies.”
Quintiles says it can help companies navigate the complex market thanks to its 14 years of experience in conducting clinical research in Russia.
Quintiles established its Clinical Operations in Russia in 1997. The first office opened in Moscow in 1997, followed by the office opening in St. Petersburg in 2005 and in Novosibirsk, centre of the Siberian region of Russia, in 2007.
The company says the move is part of its commitment to expanding into emerging markets, which are set to grow strongly over the coming decades, but are often unpredictable in terms of the legal and regulatory environment.
Andrew McConaghie
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