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Vital and Essential Pharmaceuticals (VEP)

Price control for the products included in the list of Vital and Essential Products for 2011, was based on the principles and methods which had become statutory in 2010. There were no significant changes in the regulatory and legal framework during 2011.

The retail price limit for 2011 for Vital and Essential Products registered before 26.10.2010 and manufactured by Russian companies was fixed at 8% above the level of 2010.

According to the list of Vital and Essential Products for 2011 (Order of the Government of the Russian Federation dated 11 November 2010 No. 1938) the list of Vital and Essential Products manufactured by Pharmstandard expanded and included three more products: acetylsalicylic acid, paracetamol in tablets, Mildronate®.

As at the end of 2011, the state registry contained 129 of maximum retail prices for Vital and Essential Products which were either manufactured or owned by Pharmstandard (with respect to 51 international nonproprietary names (INN) or 55 brand names).

In 2011, revenue from sales of products included in the list of Vital and Essential Products increased, as compared to 2010, by RUR 8,289.2 million or 45.2% and amounted to RUR 26,615.6 million which was 62.4% of the Company's total revenue in 2011.

In 2011, the number of product names included in the list of Vital and Essential Products grew by 27% and amounted to 142 items in the list.

Type of product

Product status

2010

2011

%

 

Number of products

% of total figure

Number of products

% of total figure

Change

All (Organic +TPP)

OTC

38

34%

38

27%

0%

Rx

74

66%

104

73%

41%

Total:

 

112

100%

142

100%

27%


Organic products

OTC

37

42%

37

35%

0%

Rx

52

58%

68

65%

31%

Total:

 

89

100%

105

100%

18%


TPP

OTC

1

4%

1

3%

0%

Rx

22

96%

36

97%

64%

Total:

 

23

100%

37

100%

61%

Though there was no 2012 inflation-related price adjustment for Vital and Essential Products in 2011, there is no doubt that the Company's plans regarding the expansion of its business, the growth in volume of both its manufacturing output and sales, alongside the increase in the number of its products, have had their effect on the Vital and Essential Products scheduled for manufacture and sales in 2012. Working in a dynamically developing market, in a situation when the Company's sphere of interests is constantly expanding, it is not easy to make a forecast indicating maximum figures. However, it is possible to say even now that the number of Vital and Essential Products sold by Pharmstandard, will increase in 2012 at least by 32 products, 21 of which will be organic.

Type of product

Product status

2011

2012

%

 

Number of products

% of total figure

Number of products

% of total figure

Change

All (Organic +TPP)

OTC

38

27%

48

28%

26%

Rx

104

73%

126

72%

21%

Total:

 

142

100%

174

100%

23%

 

Ortanic products

OTC

37

35%

46

37%

24%

Rx

68

65%

80

63%

18%

Total:

 

105

100%

126

100%

20%

TPP

OTC

1

3%

2

4%

100%

Rx

36

97%

46

96%

28%

Total:

 

37

100%

48

100%

30%

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