New Reality of the Russian Pharma: Solopharm Holds an International Video Conference

On March 31, Solopharm held an online meeting with people from all over the globe. The participants of the large-scale video conference, partners of Solopharm among them, learnt about the immediate future of the pharmaceutical market, the company’s achievements and plans, and many other things.

Considering the current complicated economic and political circumstances, any business needs to not only keep afloat but strive for a higher ground, too. This is particularly true for such an important aspect of life as medicine and healthcare. Representatives of Solopharm spoke of their ability to meet the established goals despite the circumstances.

Participants from the EU, Russia, China, India, United Kingdom, and USA took part in the event. Simultaneous interpretation and an English-language video slideshow were available for foreign representatives of the pharmaceutical sector. Everyone had a chance to ask their questions in real time using the chat.

Speakers of the event:

  • Oleg Zherebtsov, Founder and General Director, Solopharm
  • Sergei Trifonov, Commercial Director
  • Pavel Semyanov, Financial Director
  • Pavel Pilipchuk, Procurement & Logistics Director
  • Konstantin Lyssenko, Project Manager at IQ Provision (host of the coference), moderated the meeting.

The speakers stressed that the main objective of the event was to generate and develop Solopharm’s image as a reliable partner in the ever-changing world in the eyes of fellow industry players. The company’s representatives also spoke about the challenges faced by the Russian pharmaceutical industry and discussed decisions to be made to tackle them.

The discussion topics chosen were of the most vital nature not only for Russia but for other participants of the global pharmaceutical market as well:
·      changes in the international logistics;
·      legal and financial aspects of the new reality of international business relations;
·      development prospects for the Russian pharmaceutical sector;
·      achievements, challenges and new development directions of Solopharm.

It should be noted that in just 10 years since its foundation, the company has gained numerous reliable partners and has been able to maintain stable business ties with them.

“We believe that the manufacture of drugs in Russia is very important to keep tens of millions people alive, to prolong their lives. Solopharm must make these drugs more readily available. We actively invest in and increase our production capacities; the company has reached certain ranks and levels and is now one of the fastest-growing businesses in Russia,” noted Oleg Zherebtsov. At the same time, he made a note of current problems, among them the devaluation that poses a serious risk resulting in a higher production cost.

According to Pavel Pilipchuk, maintaining the existing terms of collaboration with suppliers was the most important thing for Solopharm. The Logistics Director also noted that stock control required utmost attention considering the rapidly changing turnover structure and supply chains.

“A radically new reality is taking shape as we speak, and it gives the company a chance to grow even faster, reach new heights. If the cost of our products remains competitive, we will be able to sell even more and maintain optimal financial terms with our partners. We currently observe the market’s shift towards vital and essential drugs, which will last 2, 3, or 4 months, and then the situation will stabilize within 6 months,” emphasized Sergei Trifonov, Commercial Director of Solopharm.

Pavel Semyanov, Financial Director, stated that neither the company, nor its shareholders, nor its employees had been subjected to economic restrictions, so there were no legal restrictions when it came to collaboration with foreign suppliers. “We make all our payments regularly in the same contract currency as before,” he added.

As for the company's development prospects, the experts spoke of the proposed establishment of a Solopharm cluster, which would comprise completely different production facilities employing 3,000 people. Within a year or two, Solopharm intends to become one of the Top 10 companies on the market, foreign companies included.
Watch the video conference in full

Photo: New Reality of the Russian Pharma: Solopharm Holds an International Video Conference