Cegedim Relationship Management’s Latest Thought Leadership Report on Russia’s Life Sciences Industry Reveals Sustained Market Expansion and New, More Targeted Pharma Regulations
Cegedim Relationship Management today released its latest thought leadership report, Russia 2012: The Pharmaceutical Market & New Legislation - Building for Growth in a Fast Changing Marketplace, which analyzes the most impactful trends and challenges facing the life sciences industry in Russia. Specifically, the report states that for companies to capitalize on Russia’s skyrocketing growth projections, they must expertly navigate a new law which regionalizes the regulatory decision-making process and significantly limits interactions between physicians and pharmaceutical sales representatives.
Russian Life Sciences Industry Quickly Maturing to Yield Increasingly Impressive Market Value
As BRIC economies now deliver between 20% - 30% of pharmaceutical industry revenue, it is not surprising that Russia’s market value will nearly triple by 2020. Further, lucrative high-innovation therapies account for 30% of the overall market. Critically, understanding and adapting to Russia’s most recent regulation is essential to achieving increased value and capitalizing on the country’s emergent opportunities.
Driving Innovation in Russia Pivots on More Regionalized Market Access Strategies and Restructured HCP Engagement Techniques
According to the Cegedim Relationship Management 2012 industry report, a recent regulation has fundamentally altered Russia’s legal structure concerning the life sciences. Specifically, a new national law increases the enforcement autonomy of each region by enabling control of drug provision and reimbursement systems, including the creation of Essential Drug Lists (EDLs) and treatment protocols. And, engagement channels with HCPs have been changed as the legislation now bans clinicians and pharmacists from accepting gifts from pharmaceutical representatives or receiving visits unless linked to clinical trials or educational events.
“Companies must fully reconfigure both market access and physician engagement strategies in Russia to capture new value in a market set to grow exponentially,” explained Stefan Janssens, President EMEA of Cegedim Relationship Management. “The 2012 report defines trends that symbolize a call to action for organizations operating in Russia. The new imperative for companies consists of developing initiatives that regionalize market access campaigns, increase understanding of existing KOLs, and develop a more educational approach to HCP interaction. Most importantly, a defining advantage for companies will be to select next generation solutions that leverage globally complete HCP databases and cross-system flexibility in order to better target regional stakeholders and empower adaptability to consistently changing models.”
To download the full report, Russia 2012: The Pharmaceutical Market & New Legislation - Building for Growth in a Fast Changing Marketplace, please click here.
Cegedim Relationship Management is the leading global provider and market share leader in pharmaceutical-specific Customer Relationship Management (CRM), Healthcare Data, Regulatory Compliance and Marketing Solutions.
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Cegedim Relationship Management is the Life Sciences industry’s leading provider of Customer Relationship Management (CRM) solutions. Designed specifically for Life Sciences, the company’s innovative business solutions incorporate a thorough understanding of local, regional and worldwide trends. Cegedim Relationship Management enables more than 200,000 users in many of the world’s most innovative companies to stay ahead of market challenges. In addition to CRM, Cegedim Relationship Management also provides marketing, data optimization and regulatory compliance solutions in more than 80 countries. Cegedim Relationship Management is part of the France-based Cegedim S.A. Group.
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Founded in 1969, Cegedim is a global technology and services
company specializing in the healthcare field. Cegedim supplies
services, technological tools, specialized software, data flow
management services and databases. Its offerings are targeted
notably at healthcare industries, life sciences companies,
healthcare professionals and insurance companies. The world leader
in life sciences CRM, Cegedim is also one of the leading suppliers
of strategic healthcare industry data. Cegedim employs 8,200
people in more than 80 countries and generated revenue of €911
million in 2011. Cegedim SA is listed in Paris (EURONEXT: CGM).