During a bilateral meeting between the visiting Russian deputy prime minister Sergei Sobyanin and the union commerce and industry minister Anand Sharma, Mr Sobyanin said Russian pharma firms were keen to increase their engagements with Indian companies including setting up joint ventures.
Of late, Russia with growing population and huge spending on healthcare has emerged as one of the important destinations for Indian pharmaceutical firms. Dr Reddy’s and Ranbaxy are among some of the Indian pharma majors that have a presence in Russia.
Mr Sharma said: “Our pharma sector companies are already engaged with Russia and more and more companies are looking forward to having joint ventures with Russian counterparts.”