OJSC Pharmstandard announces the acquisition of 55% stake in PJSC "Biolek" (Ukraine)

19.01.2011

           Moscow, 19 January 2011 – JSC Pharmstandard announces the acquisition of 55% stake in PJSC "Biolek" (Ukraine). In November the Ukrainian Antimonopoly Committee granted permission to purchase 
over 50% of shares in Ukrainian pharmaceutical company Biolek.

 PJSC "Biolek", a top 20 Ukrainian pharmaceutical company, is the producer of immunobiological, vaccines, serums, nutrient mediums, diagnostics product, blood products, hormonal, antiviral, antibacterial and 
enzymatic drugs.

According to unaudited data, Biolek's sales comprised USD13,3 million in 2009. The 2010 sales forecasts are USD 17,7 million – a 23,3% YOY(year on year) increase from 2009. Exports make 23% and domestic 
sales are 77% of the company revenue respectively.  

Igor Krylov, CEO of Pharmstandard, commented: «For our company the purchase of Biolek is the first acquisition in the Ukraine. Ukrainian market is the second largest by sales after Russia. 
Pharmstandard's current product range will be diversified with vaccines and serumes, oncological and immunobiological drugs. Biolek's products are largely sold in Russia and we are planning to increase sales 
within the Russian as well as overseas markets». 

The deal was financed with Pharmstandard's own funds.  

Contact:

Ilya Krylov     
Investor and Shareholder Manager 
OJSC Pharmstandard
+7 495 970 00 30 ext.2416
www.pharmstd.com



***

Pharmstandard is the leader of Russian pharmaceutical industry in R&D and production of the medicinal products. 

Pharmstandard became №1 among all pharmaceutical companies represented on commercial market in Russia. Market share of Pharmstandard reached 5% for the 9 month of 2010¹. The Company is the leader 
measured by sales in the whole Russian pharmaceutical market in the year 2009². 
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 2009².                                                    

Pharmstandard became the winner of the national business award "Company of the Year 2010" according to RBC. 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 250 products used in the treatment of diabetes, growth hormone deficiency, cardiovascular diseases, gastroenterological and neurological disorders, infectious diseases, cancer, 
etc. 113 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 2004–1H2010, 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 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 According to Pharmexpert base 9month 2010.
² According to Pharmexpert base 2009

 

***

This press release does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of OJSC Pharmstandard (the “Company”) or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.


This press release may contain 'forward-looking statements'. These statements may include the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning. All statements other than statements of historical facts, possibly contained in this presentation, including, without limitation, those regarding the Company’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's projects and services) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Risks and uncertainties include, without limitation, general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this press release.


The Company does not undertake to update any forward-looking statements as a result of new information or future events or developments.

The information and opinions contained in this document are provided as at the date of this press release and are subject to change without notice.

All information, unless expressly specified herein, is from Company data.


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Media Contacts



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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