American pharmaceutical manufacturer Eli Lilly has decided to leave the Russian market and transfer business management to its partner in Central and Eastern Europe, Swiss-registered distributor Swixx Biopharma. In this respect writer Kommersant, citing the source.
According to publication sources, the American company may transfer its business in the country to the management of Swiss Swixx Biopharma. Preparation for this process started with the change of senior management in the company representation at the end of February. At the same time, some employees may move to a new structure that Swixx Biopharma plans to create for distribution of Eli Lilly products in Russia.
Another market source added that the takeover of Eli Lilly Swixx Biopharma is an attempt to preserve the bulk of revenue in the commercial segment. In addition, such a transfer will enable the company to return to the Russian market if the geopolitical situation changes.
Market experts noted that Eli Lilly provides Licipro insulin as part of its government supply. But last year, the company’s contract volume was 31% lower than in 2021. At the same time, orders from the Russian company Geropharm, the second supplier of insulin, increased by 3.8%. In addition, some types of Eli Lilly insulin are interchangeable with analogues from Russia.
Earlier on Tuesday, the newspaper Vedomosti, citing sources WroteThat the assets of the German chemical-industrial concern Henkel in the domestic Russian market can be acquired by the pharmaceutical manufacturer Pharmstandard, the investment company Kismet Capital and the founders of the Elbrus Capital fund.