A Comprehensive Assessment of the Impact of Innovative Technologies on Business Entities in the Pharmaceutical Sector of the Russian Economy

The presented study undertakes a comprehensive assessment of the impact of innovative technologies on business entities in the pharmaceutical sector of the Russian economy.
Aim. The study aims to develop a comprehensive approach to assessing the impact of innovative technologies on business entities in the pharmaceutical sector under current conditions.
Tasks. The authors identify directions for the innovative development of the Russian pharmaceutical sector under current conditions, assess the business potential of this segment, and develop recommendations for improving the performance of the pharmaceutical cluster at the regional level of management.
Methods. This study uses general scientific methods of cognition in various aspects to conduct a comprehensive analysis of the competitive advantages of companies in the pharmaceutical sector, which vary depending on the stage in the life cycle of a business entity. In addition to the analysis of financial performance, it is important to conduct a comprehensive assessment of the competitive advantages and strategic goals of sustainable operation of business entities at all stages.
Results. The pharmaceutical industry holds a special position in the innovative economy, being one of the most stable and proftable activities. Furthermore, this activity is formed and functions under the influence of the growing needs of the Russian healthcare system. A focus on innovation is typical for pharmaceuticals and biotechnology; therefore, flexibility and adaptation should ensure sustainable operation of business entities in this sector. Pharmaceutical companies are characterized by high costs of research and development activities in general.
Conclusions. The pharmaceutical market is affected by social and economic trends. Companies in this sector are regulated by a regulatory framework, requirements for production quality, consumer properties, and marketing procedures. Expert assessments of the population, medical practitioners, and research departments allow for a flexible response to structural changes in market needs. The government health care policy is under the influence of performance assessment by the population. All these factors combined have a significant impact on the strategy and tactics of implementation of managerial decisions in the industry, determining priority directions for the development, production, marketing, and sales of
pharmaceuticals.

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