OREANDA-NEWS. December 25, 2012. Pharmstandard OJSC (LSE: PHST IL, MICEX-RTS: PHST RU), Russia’s leading pharmaceutical company, announces that Pharmstandard-Ufavita OJSC and Pharmstandard-Leksredstva OJSC have joined the Association of Pharmaceutical Manufacturers of Eurasian Economic Community.

Moscow head office of the Ministry of Justice have registered a non-profit organization — the Association of Pharmaceutical Manufacturers of Eurasian Economic Community (Association of Pharmaceutical Manufacturers of EurAsEC).

At the time of the registration the Association of Pharmaceutical Manufacturers of EurAsEC had 4 members: Pharmstandard-Ufavita OJSC, Pharmstandard-Leksredstva OJSC, Veropharm Ltd. (Kazakhstan) and KFK Ltd. (Kazakhstan).

The main purpose of this Association is to coordinate business activities of its members — pharmaceutical manufacturers of the Eurasian Economic Community engaged in production of drugs, as well as to represent and protect their property interests in international organizations, government authorities, local authorities and other non-state organizations.

The Association has a rather wide scope of work. First of all, it will facilitate the compliance of Good Manufacturing Practice (GMP) to all its members, control drug provision to the population and medical institutes and promote drug treatment research.

Thus, the Association of Pharmaceutical Manufacturers of EurAsEC will bring its members to a new, more competitive level of development.