Brics Working Group on Research of Competition Issues in Pharmaceutical Markets Under Held in Wuhan

The meeting of the BRICS Working Group on research of competition issues in pharmaceutical markets was held on 9 September 2024, in Wuhan during Russia’s BRICS Chairship in 2024.

The meeting of the BRICS Working Group was devoted to the topic of "Development of competition and fair pricing in the market of pharmaceuticals and biosimilars". The co-chairs of the BRICS Working Group are the FAS Russia and the State Administration for Market Regulation of the People's Republic of China.

During this meeting, participants discussed issues of fair pricing in pharmaceutical markets, in particular the correlation between the production of biosimilars and the price level, with an emphasis on specific examples of pharmaceutical price reductions in BRICS countries. Particular attention was paid to the protection of intellectual property rights in pharmaceutical markets.

The market of biological medications and their analogues is one of the most promising in the pharmaceutical industry. BRICS countries have a great opportunity to develop this segment of the industry by producing their own medicines at lower and fair prices.

Currently, within the framework of the BRICS Working Group on Research of Competition Issues in Pharmaceutical Markets a corresponding study of competition issues in the biosimilars market is being conducted with the support of the BRICS Competition Law and Policy Centre. As part of the research that brings together policy researchers and pharmaceutical experts from several developing countries, it is planned to summarize the experience of BRICS countries and prepare a report on the results.

The event was attended by representatives of competition authorities, international organizations and businesses from BRICS countries, which provided an opportunity to discuss competition issues in the pharmaceutical markets.

The Roscongress Foundation manages the events of Russia’s BRICS Chairship.