Interview with Dmitry Efimov, Senior Vice President of STADA AG for Russia, CIS and South East Europe
Published on 10 June 2014 by Editorial
The 20th Russian Pharmaceutical Forum kicks off next week in St. Petersburg, with speakers and representatives of the world’s largest pharmaceutical companies in attendance. Among leading conglomerates is STADA Arzneimittel AG, whose Russia, Central Asia and Caucasus wing operates as “STADA CIS” and is headquartered in Moscow.
The division’s Senior Vice President – Dmitry Efimov was born in 1975 in Nizhny Novgorod. After obtaining a degree in Economics, his career began in 1996 as an Analyst Manager at NIZHPHARM, later coming through the ranks as a Lead Economist, followed by Head of Strategic Planning Division, Financial Director and subsequently taking on parallel roles of CEO at NIZHPHARMA and Vice-President at STADA CIS in 2007. Just two years later, he was appointed as CEO of STADA CIS and is currently Senior Vice President for Russia, CIS and South East Europe at STADA AG.
In light of the upcoming forum, we caught up with Mr. Efimov to chat about the challenges and prognosis of the Russian pharma business and more:
What do you think is the pharmaceutical market’s most important task at the moment?
The main task is to survive the recession. In previous years growth has been stable, but now the market is stagnating or even receding, which the analysts didn’t forecast. The most important task for regulators, in my opinion, is to complete the introduction of international GMP quality standards and continue along the path set out by “Strategy 2020”.
What trend do you think will define the development of the global pharma market over the next five years?
In the coming years biotechnological drugs will be the driver for pharmaceutical market development. Generics will also have a chance to increase their market share; they are developing stably, thanks to the reimbursement system that is in operation is many countries.
What makes STADA’s business model effective?
A balanced portfolio of high-quality drugs in various price categories, an excellent sales team, and a management system that allows investment decisions to be made quickly.
If you weren’t the director of one of the leading generic companies, what would you do?
At the moment all my thoughts are on pharmaceuticals, more specifically with STADA CIS.
Dmitry Efimov will take part in Head to Head Discussions on Generics and Brands at the Russian Pharmaceutical Forum on 17th June, St. Petersburg, Russia