Export Potential of Russian Pharmaceutical Companies in the Emerging Regional Clusters

Abstract

The article provides an analysis of comparative importance of the company export potential growth factors in the emerging pharmaceutical clusters of the European part of Russia. The classification and assessment of export potential factors in terms of the elements of such potential (production, financial, labor, marketing potential) allowed identifying a strong link between cluster and regional factor groups and results of export activities. The goal of this paper is to propose to pharmaceutical companies involved in foreign trade activities a set of measures based on the test of a scientific hypothesis to improve their export potential. The authors have proposed and tested the hypothesis that the cumulative effect of these factors leads to increased export opportunities for the pharmaceutical cluster and promotes the effective integration of the region into the global economy. The methodological base of the research was provided by the method of geoeconomic analysis of the regional economy combined with the method of econometric modeling involving the use of mathematical statistics. After studying five Russian pharmaceutical clusters, including Belgorod, Kaluga, Moscow, Oryol, Yaroslavl clusters, the authors identified a causal link between the company export potential growth and the factors of competitiveness and cluster origin (interacting business chains, relationship and interoperability of functions, compact location in the region). The authors elaborated a set of measures to maximize the competitive advantages of cluster organization for export activities of pharmaceutical companies. The conclusions and recommendations of the study are intended for pharmaceutical companies and the authorities of regions that implement the concept of cluster development. To achieve sustainable growth of export potential and development objectives, Russian export-oriented companies should pay more attention to implementing the marketing and organizational innovations, competent optimization of commercial expenses within the cluster, and development of logistics chains for drug deliveries from the laboratory to the final consumers.