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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