Analysis of import substitution model in Russian pharmaceutical industry

Abstract

The article discusses the internal-oriented, external-oriented and mixed import substitution models that are implemented in the economies of various countries, including Russia. The essence, features and effects of import substitution in the industry are analyzed depending on the goals and possibilities of economic development of countries aspect. The results of the import substitution policy based on a mixed model in the pharmaceutical industry of Russia are revealed. The necessity of implementing the import substitution model on the basis of innovative development is indicated, which should, on the one hand, reduce the import of foreign-made medicines, and on the other hand, increase the export of this product group. It is emphasized that the implementation of such a policy requires comprehensive investment, infrastructure, and research governmental support. Evaluation of the efficiency of the industry development in the context of import substitution is calculated on the basis of state statistics and data of the Federal Customs Service of the Russian Federation. Mainly the positive impact of the import substitution policy for 2011-2018 on the Russian pharmaceutical industry is proved, the problems of further development of the industry are identified. The need to increase the international competitiveness of Russian pharmaceutical products is noted.