Investments in injections

Instability of the present day's global economy and international relations supports the idea of development of national production facilities in many countries of the world. In Russia this problem was initially considered primarily in respect of substitution of imported of most critical and complex equipment with Russian made equivalents. In furtherance of the Russian import substitution program the government issued a decree in 2015 on limitation of import of certain foreign made medical devices. However priorities of the medical industry development program keep changing depending on the market situation. As the economic crisis develops, priorities in the state support program are given to projects that offer quicker implementation and satisfaction of most crucial demands of the healthcare system.

Disposable syringes are one of the most widely used medical devices. Further, demand for syringes increases since the share of elder people keeps growing (ageing of population) and so do the rate of chronic diseases. A decrease in personal income and reduction of funds appropriated for state programs of supporting chronic patients and disabled people make the price a matter of first priority. The applicable government procurement system is built around the price competition, which makes it impossible to evaluate quality of medical products offered in public tenders. At the same time an enhanced level of education results in demand for better quality medical services.

The lack of a mechanism that allows taking into account quality of medical devices offered for the government procurement creates a situation where market players utilizing outdated technologies and offering low quality products still can successfully compete on the market. Thus, availability of a manufacture on the market that can substitute imported syringe products with Russian-made high quality equivalents would solve the problem of supply of high quality and affordable Russian made products.

With the aim of substitution of imported syringes with high quality domestic products at affordable prices, Signatum LLC is planning to invest about 2 billion Russian rubles in construction of facility in Moscow region where single-use medical devices will be developed and manufactured. In support of that plan the company, being a resident of Dubna Special Economic Zone, commenced in July 2016 construction of a modern high-tech production facility intended for manufacture of medical devices compliant with all requirements of national and international standards of good manufacturing practices (GMP).