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Binnopharm Group may enter Southeast Asian market in 2024 — CEO

According to Rustem Muratov, the company will have to resolve the issue of opening a representative office in Southeast Asia in the next few months

MOSCOW, November 15. /TASS/. The Russian pharmaceutical company Binnopharm Group (part of Sistema) may enter the Southeast Asian market as early as 2024, company CEO Rustem Muratov told TASS.

"Next year. We hope that we will be able to open the first markets, because the main point is to study the stability (of medical products to obtain information about changes in their quality over time under the influence of environmental factors - TASS). The situation there today looks like that many countries will only accept two-year stability, that means that we will just have to wait two years. But I hope that it will work out without this," he said.

In particular, Binnopharm Group plans to enter the markets of Vietnam, Malaysia, Indonesia, Thailand and the Philippines, and the possibility of entering the Myanmar market is also being assessed, Muratov noted.

"We are working with all these countries from the point of view of a single product portfolio. As soon as we are ready, we will immediately launch registration procedures in all countries," he explained.

According to him, the company will have to resolve the issue of opening a representative office in Southeast Asia in the next few months. Earlier, Binnopharm Group opened a representative office in China. A list of pharmaceutical products for launch on the Chinese market has already been determined. In December it will be discussed with foreign colleagues, the general director noted.

The Binnopharm Group was formed in 2020 as a result of the consolidation of stakes in the pharmaceutical assets of the Sistema holding. It unites five production sites in different Russian regions. The company's enterprises produce drugs of various therapeutic groups in almost all existing dosage forms. The drug portfolio includes more than 450 registration certificates in Russia.

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