It is too early to tell what will be the precise spin-offs for pharmaceutical and medical device companies under the new Eurasian Economic Treaty, which brings enhanced levels of trade integration between Russia, Belarus and Kazakhstan. However, Moscow-based corporate law specialist, Vladimir Sokov, says the prospects for improved conditions for device business remain favorable.
Initially, the concept of the customs union also implied the idea of a common market and unifies registration for medicines and medical devices. But as Vladimir Sokov, of Moscow-based legal firm Pepeliaev Group, tells Skrip regulatory affairs, that is no longer a top priority. «Given that, since 1990s, each state has been developing its own regulatory system, there would a lot of harmonization work to be done in order to establish the common market», says Mr Sokov.
