Moscow, 25 June, 2010 – JSC Pharmstandard (LSE: PHST LI, RTS: PHST RU) announces the results of its annual general meeting of shareholders held on June 25, 2010.
Based on the voting results, the annual general meeting of shareholders has taken the following resolutions:
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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.The preparation Complivit® became the winner of the award «Brand of Trust» in the category «Vitamins».
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”.
1.Pharmexpert (CMR) 2009 market data
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 JSC Pharmstandard (the “Company”) or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part of this press release, 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.