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