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. Last Updated: 07/27/2016

Retail Drug Sales Fall 4.5% in H1

Russia’s retail pharmaceutical sales slipped 4.5 percent in the first half as lower wages prompted consumers to buy cheaper drugs, Pharmexpert said Friday.

Sales reached $5.5 billion, the market researcher said in an e-mailed report, without giving a year-earlier figure. In volume, sales of prescription drugs advanced 3.2 percent, and sales of nonprescription ones declined 3.2 percent.

“In the nonprescription segment, there is a clear shift toward cheaper products,” Pharmexpert said. “Since these products are not critically important, people are gradually beginning to save on those, first of all on life-style goods such as vitamins.”

Pharmstandard, Russia’s largest drug maker, accounted for 4.8 percent of total sales in the first half, according to the report. Bayer, Germany’s largest drug maker, had 3.8 percent of total sales, while Italy’s Menarini Group and Paris-based Sanofi-Aventis were third-biggest, with 3.6 percent of the market each.