Yerevan/Moscow, February 22, 2019 – SCHNEIDER GROUP has launched its EAEU Pharma Competence Center, which began operation at the beginning of 2019. The center will capitalize on SCHNEIDER GROUP’s expertise in the pharmaceutical sector and its vast experience in 360-degree service provision for foreign market participants.
Aiming to promote the pharmaceutical industry and attract important investors, the Pharma Competence Center is combining three decisive factors. Firstly, the Eurasian Economic Union has introduced a common pharmaceutical market covering around 185 million consumers in five countries. This allows pharmaceutical companies established in one member state the opportunity to circulate their products and take part in state tenders in every union state. Situated in Armenia, the Pharma Competence Center is profiting from the country’s advantageous cooperation with both the Eurasian Economic Union and the European Union, its favorable regulation of the pharma industry, and the existence of free economic zones focusing on pharmaceutical companies.
Headed by legal counsel and pharma expert Diana Movsesyan, the Center is utilizing SCHNEIDER GROUP’s market knowledge to provide the full range of its services to pharmaceutical companies wishing to invest or expand their activities in the Eurasian Economic Union. “We are proud to have set up a full-fledged Competence Center, capable of providing our clients with the services they need – from setting up their business to taking part in tenders. On top of accompanying our present clients in their activities in the pharmaceutical industry, we are also attracting new clients to this emerging sector,” Movsesyan stated.
The services of the EAEU Pharma Competence Center pertain to the necessary labelling, certification, and compliance procedures, as well as to localization opportunities. Ulf Schneider, Founder and Managing Partner of SCHNEIDER GROUP, highlighted that “the Eurasian Economic Union’s recent initiatives have increased the present potential of the pharmaceutical sector, which is already estimated at over USD 20 billion annually.”
The EAEU Pharma Competence Center is bound to grow, already organizing a range of events in the coming months across EEU and European countries, including direct consultations with public and private sector experts.