OREANDA-NEWS. April 15, 2011. "VEROPHARM" [RTS:VRPH, MICEX:VFRM] announces preliminary data and operational performance indicators of 2010 year according to the management accounts.

Sales

In 2010 sales of Veropharm’s finished goods were up by 23% in comparison with 2009 and amounted RUR 5,395.1 mln. [1] By the 4 quarter 2010 sales finished goods increase by 24%.

Group of pharmaceutical products

Rx drugs sales amounted to RUR 3,762.2 million in 2010, a 25% increase in comparison with 2009. The Rx drugs sales accounted for 70% of total finished goods sales.[2]

OTC drugs sales amounted to RUR 704.8 million in 2010, a 34% increase in comparison with 2009. The share of OTC drugs makes 13% of total finished goods sales.

In 2010 traditional drug sales amounted to RUR 48.8 million, which represents a 46% decrease as compared to 2009, and made up 1% of total finished goods sales.

Group of non-pharmaceutical products

Adhesive bandages and cosmetic products sales came to RUR 879.3 million in 2010, a 15% increase in comparison with 2009. The share of adhesive bandages and cosmetic products in total finished goods sales of the Company was 16%.

Veropharm sales as part of the Federal Reimbursement Program (FRP) came to RUR 171.4 million in 2010, accounting for 3.2% of the Company’s total finished goods sales.[2] By the results in 2009, FRP sales were RUR 53.2 million, or 1.2% of the Company’s total finished goods sales.

The Russian Federation is the main market and provides 96.3% of the Company’s sales. In 2010 exports accounted for 3.7% of the Company’s total finished goods sales compared to 2.5% in 2009.

Rx drugs segment

Total sales of the five most popular prescription drugs by the results in 2010 amounted to RUR 1,345.4 million, or 36% of sales in the prescription drugs segment and 25% of the Company’s total finished goods sales[2].

The five top-selling Rx drugs in 2010 results include:

Geptor (Ademetionine; ATC[3] "Digestive tract and metabolism"); 9% of sales in the prescription drugs segment;

Cerepro (Holina Alfostserat; ATC "Central nervous system"); 9% of sales in the prescription drugs segment;

Irunine (Itraconazole; ATC "General anti-infectives systemic"); 7% of sales in the prescription drugs segment;

Doxorubicin-LENS (Doxorubicin; ATC "Antineoplastic and immunomodulating agents"); 6% of sales in the prescription drugs segment;

Paclitaxel-LENS (Paclitaxel; ATC "Antineoplastic and immunomodulating agents"); 5% of sales in the prescription drugs segment.

OTC drugs segment

Total sales of the five products in the OTC drugs segment by the results of 2010 amounted to RUR 687.5 million, or 98% of sales in the OTC drugs segment.

Xilen (Xylometazoline; ATC "Respiratory system"); 50% of sales in the OTC drugs segment;

Slabilen (Sodium picosulfate;  ATC "Alimentary tract and metabolism"); 29% of sales in the OTC drugs segment;

Motilak (Domperidone; ATC "Alimentary tract and metabolism"); 14% of sales in the OTC drugs segment;

Vitasharm and Vitatress (ATC "Vitamins"); 3% of sales in the OTC drugs segment;

Ginecotex vaginal tablets (Benzalkonium chloride; ATC "Urinary system&sex hormone"); 2% of sales in the OTC drugs segment.

Traditional drugs segment

Total sales of the five most popular traditional drugs by the results in 2010 amounted to RUR  44.7 million, or 92% of sales in the traditional drugs segment [2].

The five top-selling traditional drugs in 2010 results include:

Pyridoxine  hydrochloride (Pyridoxine; ATC "Alimentary tract and metabolism"); 48% of sales in the traditional drugs segment;

Vero-Dexamethasone (Dexamethasone; ATC "Hormonal drugs"); 26% of sales in the traditional drugs segment;

Vero-Ciprofloxacin (Ciprofloxacin; ATC "General anti-infective systemic"); 9% of sales in the traditional drugs segment;

Paracetamol (Paracetamol; ATC "Nervous system"); 5% of sales in the traditional drugs segment;

Vero-Loperamide (Loperamide; ATC "Alimentary tract and metabolism"); 4% of sales in the traditional drugs segment.

Adhesive bandages and cosmetic products segment

In 2010 segment of Adhesive bandages and Cosmetic products had the following structure:

Conventional bacterial adhesive bandages; 40% of sales in segment in 2010;

Conventional reel adhesive bandages; 32% of sales in the segment in 2010;

Therapeutic patches — pepper plasters, 15% of sales in the segment in 2010;

Therapeutic patches — corn plasters, 12% of sales in the segment in 2010;

Cosmetic products (Veromistin Silver, Daily, Flores); 1% of sales in the segment in 2010.

New drugs production and sales

During 2010 Veropharm launched production and sales of the following new drugs:

Veroklast (Zoledronic acid; ATC "Musculoskeletal system"); sales amounted to RUR 34.6 million;

Sypresta (Mycophenolate mofetil; АТС "Antineoplastic and immunomodulating agents"); sales amounted to RUR 29.4 million;

Verotecan (Topotecan; АТС "Antineoplastic and immunomodulating agents"); sales amounted to RUR 19.8 million;

Vero-Bleomycin (Bleomycin; АТС "Antineoplastic and immunomodulating agents"); sales amounted to RUR 13 million;

Aromeston (Exemestane; АТС "Antineoplastic and immunomodulating agents"); sales amounted to RUR 11.9 million;

Vero-Asparaginase (Asparaginase; АТС "Antineoplastic and immunomodulating agents"); sales amounted to RUR 4.9 million;

Veromistin Silver (Myramistin; Remedy for intimate hygiene); sales amounted to RUR 3.4 million;

Veromistin Daily (Myramistin; Remedy for hygienic treatment of the skin of hands and feet); sales amounted to RUR 2.5 million;

Veromistin Flores (Myramistin; Remedy for oral hygiene); sales amounted to RUR 2.3 million;

Topiromax (Topiramate; ATC "Nervous system"); sales amounted to RUR 0.6 million;

Tizalud (Tizanidine; ATC "Musculoskeletal system"); sales amounted to RUR 0.4 million.

During 2010 Veropharm launched production and sales of the following new form and dosage of drugs:

Ekzorum (Oxaliplatin; АТС "Antineoplastic and immunomodulating agents"); new dosage — 150 mg № 1; sales amounted to RUR 19.4 million;

Betaver (Betahistine; ATC "Nervous system"); new dosage – tabl 24mg № 60; sales amounted to RUR 5.9 million;

Geptor (Ademetionine; АТС "Alimentary tract and metabolism"); new dosage — 400mg № 5; sales amounted to RUR 4.8 million;

GeptorDaily (Ademetionine; АТС "Alimentary tract and metabolism"); new drug formulation — tablets 200mg № 30; sales amounted to RUR 2.7 million;

Vero-Anastrazole (Anastrazole; АТС "Antineoplastic and immunomodulating agents"); new dosage — tabl 1mg № 30; sales amounted to RUR 1.0 million;

Vero-Fludarabine (Fludarabine; АТС "Antineoplastic and immunomodulating agents"); new dosage — 50mg № 3; sales amounted to RUR 0.4 million;

Vero-Ribavirin (Ribavirin; АТС "Antiinfectives for systemic use"); new drug formulation — capsules 200mg № 12; sales amounted to RUR 0.3 million.

New drugs registration

In 2010 Veropharm received registration for the new drugs:

Aromeston (Еxemestane; ATC "Antineoplastic and immunomodulating agents");

Verotecan (Topotecan; ATC "Antineoplastic and immunomodulating agents");

Vero-Netilmicin (Netilmicin; ATC "Antiinfectives for systemic use");

Osteover (Calcitonin; ATC "Hormonal preparations for systemic use");

Veroclast (Zoledronic acid; ATC "Musculo-skeletal system");

Bergolak (Cabergoline; ATC "Urinary system&sex hormone");

Geptor (Ademetionine; ATC "Digestive tract and metabolism"); new drug formulation.

Additionally, 7 more drugs are currently at different stages of the registration process.

Debt

At the end of 2010 Veropharm’s debt amounted to RUR 464.8 million, that represents less than 20% of net assets.

[1]  according to unaudited management accounts of OJSC “Veropharm”

[2]  % — percent of finished goods sales

[3]  ATC — anatomico-therapeutico-chemical group