Kommersant: Novo Nordisk may transfer Russian distribution of insulin to a third-party company
A major European insulin manufacturer, Novo Nordisk, may transfer the supply of its drugs to Russia to a third-party distributor. About this with reference to sources in the pharmaceutical market informs “Kommersant”.
The Danish company, which has been supplying insulin to Russia since the 1990s, may follow the example of American manufacturers BMS and Eli Lilly and outsource distribution to another company. Swixx Biopharma, registered in Switzerland, is called a likely contender for the management of Novo Nordisk’s Russian business.
The pharmaceutical industry has not fallen under Western sanctions, but some manufacturers are trying to get rid of business in Russia due to public pressure and problems with logistics. Companies stop working in the country, despite the growth in revenues – according to SPARK-Interfax, the revenue of the Russian subsidiary Novo Nordisk in 2022 rose by 13 percent year-on-year, to 15.39 billion rubles. The company’s net profit increased 2.3 times to 690 million rubles.
Related materials:
Earlier, Novo Nordisk stopped deliveries to Russia of a popular diabetes drug called Ozempik. Semaglutide in its composition is included in the list of vital and essential drugs. The company warned about the termination of deliveries in November, 2022.
In May 2022, the American pharmaceutical company Bristol Myers Squibb (BMS) announced that it would leave the Russian market. She became the first international drug manufacturer to decide to leave Russia after the start of a special operation in Ukraine. The Russian business of BMS was transferred to the company’s partner, the Swiss Swixx BioPharma. In March 2023, Eli Lilly, which specializes in the production of insulin, did the same. This process will allow the company to keep at least one percent of the market to return after the normalization of the situation, representatives of Eli Lilly said.
#European #insulin #producer #thinks #leaving #Russia