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Pharmstandard

October 15, 2008

JSC Pharmstandard reports unaudited sales results for the nine months of 2008

Moscow, 15 October, 2008 – OJSC Pharmstandard (LSE: PHST LI, RTS: PHST RU) announces its unaudited IFRS sales results for the nine-month period ended 30 September 2008.

Sales

Pharmstandard’s sales for the nine months of 2008 increased by 34% to RUR10,360 million (US$431[1] million), which represents the increase of RUR2,605 million in comparison with RUR7,755 million in prior-year period of 2007. Pharmaceutical products and medical equipment sales contributed 92% and 8% of total sales respectively.

The Company’s sales of pharmaceutical products achieved RUR9,563 million (US$398 million) for the nine months of 2008 and increased by 44% compared to the sales for the same period of 2007.

The sales of OTC products were RUR7,517 million (US$313 million) for the nine months of 2008 and grew by 36% in comparison with nine-month period of 2007. Arbidol®, Amixin®, Codelac®, Complivit®, Pentalgin® and Terpincod® generated key sales growth in OTC segment. Pentalgin® has been granted “BRAND #1 IN RUSSIA” award for 2008 in analgesics category.  

The Company’s revenue from prescription (Rx) products amounted to RUR2,014 million (US$84 million) and increased by 84% compared with the same period of 2007. This increase in prescription sales was attributed to successful development of Mildronate® project as well as an increase in leading brands sales, such as Biosulin®, Cyclodol®, Phosphogliv®, Renipril® and Combilipen®.

From the beginning of the year, the Company launched 12 new products: Bloctran®, Influnorm®, Combilipen®, Complivit® ophtalmo, Complivit® Se, Complivit® Fe, Complivit® Mg,  Neipomax®, Neirocomplit®, Octolipen®, Neosmectin®, and Pentalgin® Plus.

The Company reported revenues of RUR797 million (US$33 million) from its medical equipment business, which represents a 28% decline from the prior–year period and generally attributable to the government tender sales in 2007.

The sales structure of OJSC Pharmstandard, RUR mln.

 

Nine-month period ended 30 September 2008

Nine-month period ended 30 September 2007

Change,

%

SALES:

 

 

 

Pharmaceutical products

9 563

6 653

44%

OTC products

7 517

5 521

36%

Prescription products

2 014

1 094

84%

Other sales

33

38

-5%

Medical equipment and disposables

797

1 102

-28%

Total Sales

10360

7755

34%

[1]All USD figures based on average exchange rates for the relevant periods.  USD/RUR exchange rate for nine-month period ended 30 September 2008 was 24.0294.

 

 

 

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