Moscow, 12 May, 2008 – OJSC Pharmstandard (LSE: PHST LI, RTS: PHST RU), the leading domestic pharmaceutical company in Russia and the third largest pharmaceutical company operating in Russia overall, announces its unaudited IFRS sales results for the Q1 2008.
Sales
According to unaudited report Pharmstandard net sales in Q1 2008 achieved RUR 3,297 million (US$136[1] million), which is RUR1,173 million (US$48 million) more (or 55%) compared to RUR2,124 million (US$81 million) in Q1 2007. Pharmaceutical products sales contributed 93% to total Company revenue. Pharmstandard revenue from medical equipment and disposables sales was 7% of total Company sales.
Pharmaceutical products revenue growth was 62% and achieved RUR3,061 million (US$126 million) in Q1 2008. Significant increase was due to the leading brands sales. In Q1 2007 Company launched 3 new drugs – 2 ОТС and 1 Rx.
The Company’s revenue from OTC products sales achieved RUR2,360 million (US$97 million) and increased 55%. Key sales growth from OTC products generated Arbidol®, Pentalgin®, Complivit®, Flucostat®, Terpincod® and Codelac® sales.
The Company’s revenue from Rx products sales achieved RUR693 million (US$29 million) and increased 115% compared to Q1 2007. Rx sales increase was attributed to leading brands Phosphogliv®, Amixin®, Biosulin® as well as to the start of the new Mildronate® project.
The Company reported revenue from its medical equipment business of RUR 236 million (US$10 million) and remained the same compared to Q1 2007.
The sales structure for OJSC Pharmstandard, RUR mln
|
SALES: |
Q1 2008 |
Q1 2007 |
Change % |
|
Pharmaceutical products |
3 061 |
1 889 |
62% |
|
OTC products |
2 360 |
1 521 |
55% |
|
Prescription products |
693 |
323 |
115% |
|
Other sales |
8 |
45 |
-82% |
|
Medical equipment and disposables |
236 |
235 |
0% |
|
Sale of goods |
3 297 |
2124 |
55% |
Enquiries:
OJSC Pharmstandard
+7 495 970 0030
Email pr@pharmstd.ru
www.pharmstd.ru
***
Notes to Editors:
Overview of Pharmstandard
Pharmstandard is the leading domestic pharmaceutical company in Russia and the third largest pharmaceutical company operating in Russia overall, by sales value. Pharmstandard is a leader of the biggest commercial segment of the Russian pharmaceutical segment. The Company develops, manufactures, markets and sells generic and, to a lesser extent, original pharmaceutical products in various formulations, primarily in Russia. Pharmstandard’s product portfolio includes market-leading brands (6 brands among top-20 best selling domestic brands in Russia), such as Arbidol® (antiviral for systemic use), Pentalgin® (analgesics), Terpincod® (cough and cold), Complivit® (vitamins), Codelac® (cough and cold) and Flucostat® (antifungal). In 2007, Arbidol® was the largest selling pharmaceutical product at the commercial segment of the Russian pharmaceutical market, according to pharmacy audit data by Pharmexpert.
Pharmstandard operates five manufacturing facilities in Russia and, with a production capacity of 1.3 billion packs as of December 31, 2007, has one of the largest production capacities among domestic pharmaceutical companies in Russia. The Company has invested approximately RUR2.4 billion in capital investments in its manufacturing facilities since the start of 2004. Pharmstandard’s flexible production capacity distinguishes it from its competitors by allowing it to quickly and efficiently adjust production based on input from its distributors and sales force.
In addition to its pharmaceutical business, the Company also develops, manufactures, markets and sells medical equipment, such as sterilizing and distilling machines, and disposable medical products.
[1] All USD figures based on average exchange rates for the relevant periods. These were USD/RUR 26.30 for 3 months 2007 and USD/RUR 24.23 for 3 months 2008.
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