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Russian authorities approve mechanism of subsidies to pharmaceutical companies

The support mechanism will become effective in 2020

MOSCOW, November 21. /TASS/. The Russian government has approved mechanisms to support introduction of modern technologies by pharmaceutical and medical enterprises, the press service of the Industry and Trade Ministry.

"The new rules provide for financing (mechanism for providing subsidies in advance) of manufacturers' costs on implementing projects from the R&D stage and conducting clinical research and testing up to the launch of developments into industrial production," Industry and Trade Minister Denis Manturov said as quoted by the statement.

The support mechanism will become effective in 2020.

The rules provide support for innovative projects, the implementation of which contributes to the development of modern technologies in Russia.

Recipients of subsidies will be determined on a competitive basis. The ministry sets revenues from sales of products created as part of a certain project, and the period of its implementation as main criteria for the effectiveness of a project.

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