Stable Instability: Solopharm Predicts the Future of the Russian Pharma Market

On March 23, the General Director of Solopharm, representatives of pharmacy chains, distributors and other partners held a video conference to discuss crucial issues and challenges that the industry faces in the new economic environment.

The event aimed at the creation of a space for exchanging information and opinions on vital matters of the pharmaceutical market was held in a new format for the first time. IQ Provision (Solopharm’s learning platform for pharmacists) hosted the event that assembled over 150 people directly involved with the pharmaceutical market, representing pharmacies, distributors, manufacturers, hospitals, etc.

Speakers at the event:
Oleg Zherebtsov, Owner and General Director, Solopharm
Sergei Trifonov, Commercial Director, Solopharm
Special guests:
Emil Khubaliev, Commercial Director, Vita Pharmacy Chain,
Vassily Slepnov, Owner, Zdorovie Pharmacy Chain
Svetlana Ogay, Deputy General Director for Commerce, Pharmkomplekt
Konstantin Lyssenko, Project Manager of IQ Provision, moderated the meeting.

The speakers did not simply deliver monologs; the top managers of Solopharm answered the participants’ questions. Replies were given to the many messages received via the chat. This format of the event made the discussion lively and fruitful.

The following vital issues were discussed during the conference:
- future of the retail pharma market;
- legislative changes;
- possible shortages: will they or won’t they occur;
- import substitution under new circumstances;
- new development directions for Solopharm.

During the conference, speakers talked about the expected developments at the pharmaceutical market in the immediate future, and the representatives of pharmacy chains shared the challenges that arose in connection with the current global situation.

According to Oleg Zherebtsov, 70 out of 521 packaging material suppliers for Solopharm are located in abroad, but about 90 % of them remain reliable partners. When answering a question about possible supply interruptions, Mr. Zherebtsov explained that they would not occur over the next six months.

Sergei Trifonov also emphasized that Solopharm had not taken any drastic steps involving a steep increase in prices.
Challenges currently faced by pharmacy chains were one of the important topics of discussion at the conference. Emil Khubaliev, Vassily Slepov, and Svetlana Ogay spoke about people panic-buying drugs (mostly those designated for treatment of chronic illnesses) in amounts exceeding their actual needs, which caused stock scarcity in pharmacies.

The meeting concluded with the participants thanking the speakers and the moderator and requesting that similar events be held in the future, particularly noting their relevance and practical usefulness. Therefore, we look forward to the next meeting.

Photo: Stable Instability: Solopharm Predicts the Future of the Russian Pharma Market