Pharmstandard Reports 9M 2009 Sales Results

OREANDA-NEWS. October 23, 2009.   JSC Pharmstandard (LSE: PHST LI, RTS: PHST RU) announces its unaudited IFRS sales results for the nine-month period ended 30 September 2009. The total revenue of the Company for the nine months of 2009 amounted to RUR14,539 , an increase of 40% over 9m2008.

Sales

Pharmstandard’s sales for the nine months of 2009 increased by 40% to RUR14,539 million, which represents the increase of RUR4,179 million in comparison with RUR10,360 million reported in the same period of 2008. Pharmaceutical products and medical equipment sales contributed 97% and 3% of total sales respectively.

The Company’s sales of pharmaceutical products achieved RUR14,103 million for the nine months of 2009 and increased by 47% compared to prior-year period. Pharmaceutical products organic sales growth excluding Velcade® and Mildronate® sales was 27%.

The sales of OTC products were RUR9,319 million for the nine months of 2009 and grew by 24% in comparison with nine-month period of 2008. Arbidol®, IRS19®, Afobazol®, Imudon®, Pentalgin®, Complivit®, Codelac® and Amixin® generated key sales growth in OTC segment. 

The Company’s revenue from prescription (Rx) products amounted to RUR4,727 million and increased by 138% compared with the same period of 2008. The prescription products sales were driven not only by an increase in leading brands sales, such as Phosphogliv®, Combilipen® (launched in 2008), Rastan®, Pikamilon®, Biosulin®, and Azitrox® but also by successful implementation of Velcade® (sales – RUR2,278 for 9m2009) and Mildronate® (sales – RUR805 for 9m2009) projects. Rx segment organic growth excluding Velcade® and Mildronate® sales was 50%.

The Company’s revenue from its medical equipment business totaled RUR435 mln for the nine months of 2009, which represents a 45% decline in comparison with the same period of 2008.

Sales structure – 9m 2009, RUR mln.

Sales structure – 3q 2009, RUR mln.