Pharmacy market trends and prospects: FC Grand Capital took part in the 24th Pharmacy Summit

On March 13-14, Radisson Collection Hotel hosted the 24th Pharmacy Summit: a key event for the pharmaceutical industry for the pharmacist community.

The event was traditionally focused on pharmacy market development trends, including retail consolidation, sales and inventory management, human resources, pressure from federal chains, e-commerce, etc.

Dmitry Varakin, Deputy General Director for Regional Chain and Sales Management, FC Grand Capital, took part in the session called Kings of the Mountain or News from the Pharmacy Olympus. Plenary Session for Market Leaders where he announced FC Grand Capital's trial project, The Right Solution, focused on non-contracted retail interactions.

“In February this year, FC Grand Capital launched The Right Solution pilot project. It is pretty simple: we negotiate with manufacturers directly to agree on specific plans for specific legal entities and TINs. Then we hand them a clear, transparent bonus that is significantly larger than those that the pharmacy network or the legal entity can get from Associations. It is a win-win collaboration: manufacturers do not pay for background sales, they pay only for those legal entities that keep up with the plan. The distributor, on the other hand, does not face any risks: we do not have to low-ball our prices and just focus on creating the inventory pressure we need. We already have interim results for a pilot project with one manufacturer, and they are encouraging. Over 1,000 companies in total participated in our pilot project; all of them showed increment from 50% and up. Our plans for Q2 include expanding our pool with a few manufacturers, one of which is a top 10 company," he explained.

Mr. Varakin assured that The Right Solution pilot project will keep growing and expanding. However, the number of companies it covers is limited. The number limit on participating companies was set up for more qualitative handling of each legal entity in FC Grand Capital's client base.

Other participants of the plenary session:

• Evgeny Nifantyev, member of the State Duma Healthcare Committee;
• Nikita Punia, Executive Director, Pharmasyntez;
• Elmira Chizh, Commercial Director, Velpharm;
• Boris Popov, General Director, Rigla pharmacy chain;
• Galina Orlova, General Director, IRIS;
• Sergey Meshchan, Director of the Head Office, Garmoniya Zdorovya pharmacy chain

The session was moderated by Igor Bakhmetyev, Commercial Director at Nizhpharm.

The 24th Pharmacy Summit reaffirmed its status as a key platform for sharing experience and finding solutions that promote pharma development in Russia. R-Conf, one of the fastest growing market business conference and expo organizers, hosted the event.