Sanofi-Aventis Confirms Obligations to Russian Government
OREANDA-NEWS. March 24, 2010. Sanofi-aventis announced today the signing of the Memorandum of Understanding with Russian Technologies State Corporation. The Memorandum was signed within the context of the summit of the French and Russian Prime-Ministers Franзois Fillon and Vladimir Putin in Rambouillet, France. The document was signed by Mikhail Shelkov, Director General of Prominvest, LLC and Christopher Viehbacher, Chief Executive Officer of Sanofi-aventis Group.
Thus, Sanofi-aventis confirms its intention to participate in the “Pharmpolis” Project, the initiative suggested by the Russian Government in order to localize innovative drug manufacturers, to attract high-tech platforms and create “pharmaceutical parks”.
Sanofi-aventis signed the agreement according to which, under certain conditions, the company shall acquire the majority interest in CJSC “Bioton Vostok”, a Russian company that owns a modern plant for insulin production in the territory of Russia, certified according to the European standards of drug production and quality control. The Group intends to use the facilities of Bioton Vostok to produce insulin analogs and human insulin for more efficient satisfaction of the needs on the Russian pharmaceutical market.
Christopher Viehbacher, Chief Executive Officer of Sanofi-aventis, declared, “Due to this Memorandum of Understanding, Sanofi-aventis will strengthen its stable position in Russia. We aspire to improve the quality of life for the patients suffering from severe conditions, such as diabetes. Besides, we intend to promote a higher level of diagnostics and treatment at early stages of the disease, ensuring access to innovative drugs at affordable prices. The organization of local insulin production in Russia will be a major step towards achieving this goal.”
“Diabetes is one of the three major public health priorities in the Russian Federation. It is considered to be a socially significant disease characterized by high mortality rates and affecting 2.5 million patients in Russia diagnosed with Type 2 diabetes*. If undiagnosed cases are taken into account, this figure is estimated to be 3 to 4 times higher, amounting to about 10 mln. Russians. Our aim is to fully satisfy the demand for insulin on the Russian market and to do our best to fight such a threatening and socially dangerous disease as diabetes,” declared in his speech S.V. Chemezov, Director General of SC Russian Technologies.
* the Russian Federation National Diabetes Registry.
AboutRussian Technologies State Corporation
Russian Technologies State Corporationwas established on November 23, 2007 pursuant to the Federal Law of the Russian Federation. The purpose of the activities of Russian Technologies State Corporation is assistance in development, production and exports of high-tech industrial products by providing support, both on the domestic and foreign markets, to the Russian companies involved in development and production of such high-tech industrial products, and by attracting investments to organizations in various industries.
About Sanofi-aventis
Sanofi-aventis, one of the leading global pharmaceutical companies, discovers, develops and distributes therapeutic solutions for improving the quality of every human life. Sanofi-aventis is listed on Paris (EURONEXT: SAN) and New York (NYSE: SNY) Stock Exchanges. For further information about the company, please visit the following website:www.sanofi-aventis.com
About Sanofi-aventis in Russia
Sanofi-aventis has been present on the Russian market since 1970. The company ranks second1 on the Russian pharmaceutical market. The company’s staff amount to 1,300 employees (including those of Sanofi-aventis, Zentiva, a company that has recently become a member of the Group, and Sanofi Pasteur, a vaccine subdivision of Sanofi-aventis Group).
Sanofi-aventis Russia offers its customers a wide portfolio of original drugs, generics and over-the-counter medicines in the key therapeutic areas (cardiovascular diseases, diabetes, oncology, diseases of central nervous system, internal diseases and thromboses) as well as vaccines (through vaccine subdivision Sanofi Pasteur).
Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates regarding product development and product potential, and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future events, operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans” and similar expressions. Although the management of Sanofi-aventis believes that the expectations reflected in such forward-looking statements are reasonable, investors should take into account that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi-aventis. Due to the above, the actual results and developments may differ materially from those expressed in, implied or projected by, the forward-looking information and statements. The said risks and uncertainties include, without limitations, those related to studies and developments, future data of clinical studies, including post-marketing studies, decisions adopted by regulatory authorities, such as US Food and Drug Administration (FDA) or European Medicines Agency (EMEA) regarding the possible approval and the corresponding date of such approval; an application that can be submitted with respect to any medicine, device or biological product, and the decisions of the said authorities regarding labeling and other factors that may affect the availability or the commercial potential of the said candidate products; lack of guarantee that in case of product approval the said product will be discussed or identified in the public filings made by Sanofi-aventis with the US Securities and Exchange Commission (SEC) and the French Financial Markets Authority (AMF), including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi-aventis’ annual report on Form 20-F for the year ended December 31, 2008. Except for the cases required by the applicable law, Sanofi-aventis does not assume any obligation to update or revise any forward-looking information or statements.
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