OJSC PHARMSTANDARD ANNOUNCE UNAUDITED SALES RESULTS FOR THE FIRST 6 MONTHS OF 2010

27.07.2010

Moscow, July 27, 2010 – OJSC Pharmstandard (LSE: PHST LI, RTS: PHST RU), announces its unaudited IFRS sales results for the first 6 months 2010.

According to its unaudited report, Pharmstandard’s sales for the first 6 months of 2010 achieved RUR11,543 million and increased by 14.7% or RUR1,481 million compared to the sales of RUR 10,062 million for the first 6 months of 2009.

Pharmaceutical products sales contributed 97.8% while medical equipment and disposables sales contributed 2.2% of total Company sales.


Pharmaceutical products

The Company’s sales of pharmaceutical products for the first six months of 2010 increased by 15.4% and achieved RUR11,293 million compared to the sales of RUR9,789 million for the same period of 2009. The sales growth in absolute value achieved RUR1,504 million.

In the sales structure of pharmaceutical products 64.3% contributed by sales of pharmaceutical products owned by the Company and 35.7% contributed by sales of the 3rd parties products

The sales of the Company’s owned products for the first half of 2010 increased by 13.3% or by RUR853 million and achieved RUR7,265 million.

In the sales structure of Company’s owned products 78.1% contributed by the non-prescription products and 21.9% by the prescription products.

The sales of the Company’s owned non-prescription (OTC) products increased by 4.7% or by RUR255 million and achieved RUR5,677 million. The best selling products were Arbidol®, Pentalgin®, Afobasol®, Amixin®.

The sales of the Company’s owned prescription (Rx) products increased by 60.4% or by RUR598 million and achieved RUR1,588 million. The best selling products were Phosphoglive®, Combilipen®, Rastan®, Biosulin®.

The sales of the 3rd parties products increased by 18.7% or by RUR623 million and achieved RUR3,956 million compared to the same period of 2009. The best selling products were Velcade® (Bortezomib), Mildronate® (Meldonium), Coagil VII (Eptacog Alfa) and Pulmozyme® (Dornaze alfa).


The OJSC Pharmstandard and “Johnson & Johnson” LLC entered into mutual agreement and successfully realized the project to localize secondary packaging of the product Velcade® (INN Bortezomib) in production plant OJSC “Pharmstandard-UfaVITA”. The sales of the product in the first half of 2010 achieved RUR1,650 million.

The Company successfully launched first shipments of the product Coagil VII (INN Eptacog Alpha) for the amount of RUR 791 million. Coagil VII were developed in the frame of biotechnological project “Generium” established by OJSC Pharmstandard and CJSC “Lekko”. In December 2009 OJSC Pharmstandard has won the federal open auction in frame of the government program “7 nosologies” to deliver the product Coagil VII for the 10 months of 2010 for the amount of RUR 1,069 million (excluding VAT).

 

Medical equipment

The Company’s sales of medical equipment and disposables for the first six months 2010 decreased by RUR22 million or by 8.2% and achieved RUR251 million compared to RUR273 million in the first half of 2009.

OJSC Pharmstandard sales structure for the first 6 months 2010, million of RUR

1H 2010 (RUR mln)

of total sales

1H 2009

(RUR mln)

of total sales

Change

(RUR mln)

Change

(%)

Pharmaceutical products

11,292.7

97.8%

9,788.6

97.3%

1,504.0

15.4%

PHS owned products

7,265.0

62.9%

6,412.2

63.7%

852.8

13.3%

Non-prescription products

5,676.9

49.2%

5,422.2

53.9%

254.7

4.7%

Branded

4,665.2

40.4%

4,488.9

44.6%

176.3

3.9%

Non-branded

1,011.7

8.8%

933.3

9.3%

78.4

8.4%

Prescription products

1,588.1

13.8%

990.0

9.8%

598.1

60.4%

Branded

1,351.2

11.7%

883.4

8.8%

467.8

53.0%

Non-branded

236.9

2.1%

106.6

1.1%

130.2

122.1%

3rd parties products

3,956.2

34.3%

3,333.6

33.1%

622.6

18.7%

Velcade®

1,649.6

14.3%

2,278.1

22.6%

-628.5

-27.6%

Coagil VII

790.6

6.8%

0.0

0.0%

790.6

-

Pulmozyme®

610.2

5.3%

0.0

0.0%

610.2

-

Mildronate®

554.7

4.8%

673.6

6.7%

-118.9

-17.7%

Other  3rd parties products

351.1

3.0%

381.9

3.8%

-30.8

-8.1%

Other products

71.5

0.6%

42.8

0.4%

28.7

66.9%

Medical equipments

250.7

2.2%

273.3

2.7%

-22.5

-8.2%

Total group sales

11,543.4

100.0%

10,061.9

100.0%

1,481.5

14.7%


OJSC Pharmstandard sales structure for the first 6 months 2010 (without 3rd parties products), million of RUR

1H 2010 (RUR mln)

of total sales

1H 2009

(RUR mln)

of total sales

Change

(RUR mln)

Change

(%)

Pharmaceutical products

7,336.5

96.7%

6,455.0

95.9%

881.4

13.7%

PHS owned products

7,265.0

95.8%

6,412.2

95.3%

852.8

13.3%

Non-prescription products

5,676.9

74.8%

5,422.2

80.6%

254.7

4.7%

Branded

4,665.2

61.5%

4,488.9

66.7%

176.3

3.9%

Non-branded

1,011.7

13.3%

933.3

13.9%

78.4

8.4%

Prescription products

1,588.1

20.9%

990.0

14.7%

598.1

60.4%

Branded

1,351.2

17.8%

883.4

n

13.1%

467.8

53.0%

Non-branded

236.9

3.1%

106.6

1.6%

130.2

122.1%

Other products

71.5

0.9%

42.8

0.6%

28.7

66.9%

Medical equipments

250.7

3.3%

273.3

4.1%

-22.5

-8.2%

Total sales of owned products

7,587.2

100.0%

6,728.3

100.0%

858.9

12.8%

 


Сonference call

Pharmstandard is pleased to invite the investment community to a sales results conference call with the management of the company followed by a Q&A session.

Tuesday, July 27, 2010
09:00 New York
14:00 London
17:00 Moscow

International Call-in Number: +44 (0)20 7162 0025
US Call-in Number: +1 334 323 6201

Conference call participants can register in advance using the link below:

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=916302&Conf=173905

We recommend that participants start dialling in 5-10 minutes prior to ensure a timely start to the conference call.




Pharmstandard will be represented by:

Igor Krylov, CEO

Elena Arkhangelskaya, CFO

Conference call presentation will be available on Tuesday, 27 July 2010 on Company’s web-site: http://www.pharmstd.ru/investors_en/investor/p2/

 

The conference call replay will be available through August 3, 2010

International Replay Number: +44 (0) 20 7031 4064
Replay Access Code: 871685

Contacts:
JSC Pharmstandard
ILYA KRYLOV
Tel: +7 495 970 0030 ext 2416
E-mail: ir@pharmstd.ru
www.pharmstd.ru

***

Pharmstandard is the leader of Russian pharmaceutical industry in R&D and production of the medicinal products. The Company is the leader measured by sales in the whole Russian pharmaceutical market in the year 2009. Since 2007 Pharmstandard keeps its leading position in commercial segment and remains strong leader among the domestic pharmaceutical company-manufacturers, having increased it’s market share from 18,9% in 2008 up to 20% in 2009. During the tenth anniversary of «Platinum Ounce 2009», the open competition among professionals of pharma business, Pharmstandard was awarded in the nominations for «The Company of the Year - the Russian pharmaceutical products manufacturer» and «The Company of Decade - the Russian pharmaceutical products manufacturer».

Pharmstandard operates three modern pharmaceutical manufacturing facilities: JSC “Pharmstandard-Leksredstva” in Kursk, JSC “Pharmstandard-UfaVITA” in Ufa, JSC “Pharmstandard-Tomskhimpharm“  in Tomsk and medical equipment factory JSC “TZMOI” in Tyumen.

The Company has invested approximately RUR 3 billion RUR in modernization and development of production capacities reaching more than 1,35 bln units per year. All the production facilities fully comply with Russian manufacturing standards. Six production lines of JSC «Pharmstandard-Leksredstva» meet EU GMP requirements.

Pharmstandard portfolio includes over 200 products used in the treatment of diabetes, growth hormone deficiency, cardiovascular diseases, gastroenterological and neurological disorders, infectious diseases, cancer, etc. 86 products offered by Pharmstandard are included in the List of Vital and Essential Pharmaceuticals.

Among our market-leading brands are Arbidol®, Complivit®, Pentalgin®, Flucostat®, Phosphogliv®, Amixin® and Afobazol®. Antiviral product «Arbidol» was awarded for «Platinum ounce 2009» in the nominations «OTC Product of the Year» and «OTC Product of Decade». Pentalgin® has been granted “BRAND #1 IN RUSSIA” award for 2009 in analgesics category.

In 2004–2009, we developed and introduced over 40 new pharmaceutical products in close collaboration with the leading scientific centers of Russia.  Pharmstandard is the partner of the joint venture biotechnological project “Generium” in order to develop and manufacture innovative biological products within the state program of import substitution.

Pharmstandard holds 11,3% of shares of the company Grindeks AS, Latvia and keeps strategic partnership on distribution and promotion of Mildronate®.

Pharmstandard became a public company in 2007 by offering to the public 27.6% of its share capital in the form of GDR on the London Stock Exchange (LSE) and 18.1% of its share capital in the form of ordinary shares on two local stock exchanges (RTS, MICEX). Approximately 54.3%of voting shares of OJSC “Pharmstandard” are held by “Augment Investments Limited”.

www.pharmstd.ru

1.Pharmexpert (CMR) 2009 market data


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Marina Shurkina


Head of Administrative Division Pharmstandard JSC

+7 (495) 970 0032
pr@pharmstd.ru

5B, Likhachyovsky Proezd, Dolgoprudny, Moscow Region, 141701, Russia

+7 (495) 970 0030/32

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