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Biotechnology Briefs

The Russian government has approved a program to increase commercialization of biotech products, according to domestic media. By 2018, Russia hopes to achieve local market consumption of biotech products to the value of RUB300 billion ($8.8 billion USD), RUB200 billion in production ($5.8 billion USD); and exports worth RUB50 billion ($1.4 billion USD). Russia expects the global biotechnology market to continue developing rapidly, with the expected volume to reach $2 trillion by 2025. Russia’s share in the global biotechnology market currently accounts for less than 0.1%.

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