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Pharmstandard

October 19, 2009

Pharmstandard reports 9m2009 sales results

Moscow, 19 October, 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.

9M 2009

2009 (mln RUR)

2008 (mln RUR)

Difference (mln RUR)

Difference (%)

Pharmaceutical products

14 103

9 563

4 541

47%

OTC products

9 319

7 545

1 774

24%

Branded products

7 870

6 494

1 377

21%

Non-branded products

1 449

1 051

398

38%

Prescription products

4 727

1 984

2 743

138%

Branded products

4 412

1 767

2 645

150%

     Mildronate

805

889

-84

-9%

     Velcade

2 278

0

2 278

-

Non-branded products

314

217

98

45%

Other sales

58

34

24

71%

Medical equipment and disposables

435

797

-362

-45%

Total sales

14 539

10 360

4 179

40%

Sales structure – 3q 2009, RUR mln.

3Q 2009

2009 (mln RUR)

2008 (mln RUR)

Change (mln RUR)

%  09 to 08

Pharmaceutical products

4 315

3 891

425

11%

OTC products

3 588

3 221

366

11%

Branded products

3 035

2 764

271

10%

Non-branded products

553

457

96

21%

Prescription products

712

657

55

8%

Branded products

572

547

25

5%

     Mildronate

131

261

-130

-50%

     Velcade

0

0

0

-

Non-branded products

140

110

30

27%

Other sales

15

13

2

15%

Medical equipment and disposables

162

270

-108

-40%

Total sales

4 477

4 161

316

8%

Conference Call

Pharmstandard is pleased to invite the investment community to a sales results conference call with the management of the company followed by a Q&A session.

Monday, October 19, 2009

09:00 New York

14:00 London

17:00 Moscow

To join the conference please register on-line in advance using the link below:

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=916302&Conf=168893

or dial:

International Call-in Number:  +44 (0)20 7162 0025

US Toll Number : +1 334 323 6201

We recommend that participants start dialling in 5-10 minutes prior to ensure a timely start to the conference call.

Conference call presentation will be available on Monday, 19 October 2009 on Company’s web-site:

https://www.pharmstd.ru/investors_en/investor/p2/

Pharmstandard will be represented by:

Igor Krylov, CEO

Elena Arkhangelskaya, CFO

The conference call replay will be available through October 22, 2009.

International Replay Number: +44 (0)20 7031 4064
US Toll Replay Number: +1 954 334 0342
Replay Access Code: 848065

 

 

 

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