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Prices are increasing at the rate difference
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Tuesday, April 28, 2009 (GST)
In the first three months of the year medicine in Russia went up by 12.4%, estimate analysts of DSM Group.
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The growth of prices was in the hands of producers and distributors: the Russian commercial drugs market rose by a third in the first three months of 2009 , says a new research. Increasing of price will continue.
Research company DSM Group published a research entitled "Impact of crisis on the drug market in Russia: results of I quarter of 2009". According to analysts, for the first three months of the year the commercial market for drugs has increased by 31% in ruble terms. This was due to price increases, the researchers explain: drugs for three months went up by 12.4%, compared with December 2008. As a result, the volume of the commercial market in the I quarter of 2009 rose to 72.5 billion rubles. At the same time, in dollar terms it declined by 7.6% to $ 2.1 billion.
According to the forecasts of DSM Group, the market will increase by about a quarter in ruble terms this year , the increase in prices will remain the main driving factor.
Average cost of packaging the drug in the commercial market in Russia for I quarter has grown by 31% compared to the same period last year and amounted to 72.5 EUR. In dollar terms the price has fallen by 7% - to $ 2.11. The number of packages sold in January and February decreased slightly, but the high returns in March, "generated" the overall rate for the quarter.
High prices in I quarter mainly due to the devaluation of the ruble, since about 80% of medicines on the market - imports. While the Russian manufacturers owns 20% of sales on the Russian market, they are forced to raise prices, because the work on imported raw materials. In the end, because of the difference of exchange rates prices rose by 30%.
Another factor - warm winter: the demand for seasonal products, as compared with last year and fell to compensate for falling demand, retailers raised prices. Reduced dollar prices due to the fact that not all companies have raised prices in proportion to the devaluation of the ruble, the experts explained.
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