Pharmstandard Announces Results of Sales for 9M
OREANDA-NEWS. November 8, 2011. OJSC Pharmstandard (LSE:
Pharmstandard’s sales for 9M2011 totalled RUR 26,087.3 million and grew by 33.4% (or RUR 6,533.6 million) vs 9M2010.
Key figures representing sales increase for 9M2011:
· Pharmstandard’s overall sales increased by 33.4% (RUR 6,533.6 million).
· Organic sales increased by 6.8% (RUR 916.3 million).
· Russian pharmaceutical retail sector sales increased by 10.7%.[1]
· Pharmstandard’s pharmaceutical market position (retail segment)
Pharmstandard’s result for 9M2011 put it in the third position in the list of TOP 10 corporations in the retail sector of the Russian pharmaceutical market, with a share of 4.9%. (9m2010: 3rd position)
· Codeine-free preparations
Sales of preparations (codeine-free) for 9M2011 amounted to RUR 406.4 million which, in relation to preparations containing codeine, amounts to 13.3%.
· Sales of VEP
Preparations included in the list of Vital and Essential Preparations accounted for 60.9% of Pharmstandard’s total revenue in 9M2011.
· Arbidol®
Sales of Arbidol® in 9M2011 amounted to RUR 3,041.7 million, a decrease of 21.0% or RUR 808.9 vs RUR
· TPP (Third Party Products)
Sales of TPP grew by 91.8% or RUR 5,617.3 million and totalled RUR 11,737.5 million.
· Sales of Medical Equipment
Sales of medical equipment in 9M2011 amounted to RUR 417.2 million representing an increase of 7% or RUR 27.3 million vs the same period of the previous year.
· Sales of PJSC Pharmstandard-Biolek (
Sales of Pharmstandard-Biolek amounted to RUR 339.5 million. These results are not included in Pharmstandard’s overall structure of sales.[2]
Sales Results for 9M2011
According to the Company’s unaudited report, its revenue in 9M2011 grew by 33.4% amounting to RUR 26,087.3 million which represents an increase of RUR 6,533.6 million vs RUR 19,553.7 for 9M2010. The share of sales of pharmaceuticals in the Company’s total revenue amounted to 98.4%. Pharmstandard’s revenue from sales of medical equipment amounted to 1.6% of its total sales. In the structure of sales of pharmaceuticals, 53.3% represents Company’s organic sales, 45.7% represents sales of third party products (TPP), with 0.9% accounting for the others sales.
· The overall increase in sales of pharmaceutical products (including third party products) accounted for 34.0% or RUR 6,506.3 million; the total volume of sales amounted to RUR 25,670.1 million.
· The increase in organic sales[3] of pharmaceutical products (excluding third party products) accounted for 6.8% or RUR 889.0 million; overall volume of sales amounted to RUR 13,932.6 million.
· Total growth of sales of third party products accounted for 91.8% or RUR 5,617.3 million; overall volume of sales amounted to RUR 11,737.5 million.
OTC preparations (Company’s organic sales)
Pharmstandard’s revenue from sales of OTC preparations in 9M2011 totalled RUR 11,222.7 million which represents an increase of 5.2% or RUR 551.3 million in relation to the same period of 2010. The leaders of the increase in sales were Pentalgin® (an increase of 35.8% or RUR 492.4 million), Acipol® (205.2% or RUR 134.8 million), Codelac® (34.4% or RUR 168.0 million), Complivit® (22.1% or 162.6 million), Afobazol® (38.6% or RUR 133.0 million) and Flucostat® (10.5% or RUR 47.6 million).
Sales of Arbidol® in 9M2011 amounted to RUR 3,041.7 million, a decrease of 21.0% or RUR 808.9 vs RUR
Sales of codeine-free preparations
Revenue from sales of codeine-free preparations in 9M2011 amounted to RUR 406.4 million (9M2010: RUR 47.0 million) which amounts to 13.3% in relation to codeine-containing preparations (9M2010: 1.8%).
Sales of Pentalgin® (codeine-free) amounted to RUR 320.7 million or 17.2% of the overall revenue from Pentalgin® in 9M2011.
Sales of Codelac® Broncho (codeine-free) amounted to RUR 85.7 million or 13.1% of the total revenue from sales of Codelac® in 9M2011.
In July
Rx preparations (Company’s organic sales[4])
Pharmstandard’s revenue from sales of Rx preparations in 9M2011 totalled RUR 2,468.0 million and increased by RUR 230.5 million or 10.3% vs RUR 2,237.5 million in 9M2010. The main drivers of growth of sales of Rx preparations were the following preparations: Phosphoglive® (30.1% or RUR 141.6 million), Combilipen®(51.1% or RUR 90.8 million), Azitrox® (87.0% or RUR 54.3 million), Octolipen® (83.0% or RUR 52.8 million) and Picamilon® (17.6% or RUR 17.3 million).
TPP (Third Party Products)
Sales of TPP products grew by 91.8% or RUR 5,617 million and totalled RUR 11,737 million. The share of TPP sales in the overall sales of pharmaceutical products in 9M2011 amounted to 45.7% vs 31.9% in 9M2010.
The main sales growth drivers were Mabthera® (RUR 4256.0 million), IRS®-19, Imudon® (245.1% or RUR 728.4 million).
VEP (Vital and Essential Preparations)
Preparations included in the VED list accounted for 60.9% of the overall revenue of the Company in 9M2011.
Medical Equipment
Sales of medical equipment in 9M2011 amounted to RUR 417.2 million and grew by 7.0% or RUR 27.3 million in relation to the same period of the previous year.
OJSC Pharmstandard revenue structure, 9M2011
Sales 9m 2011 |
9m 2011 (million RUR) |
% of total sales |
9m 2010(million RUR) |
% of total sales |
Growth 9m 2011/ 9m 2010(million RUR) |
Growth 9m 2011/ 9m 2010 (%) |
Pharmaceutical products |
25,670.1 |
98.4% |
19,163.8 |
98.0% |
6,506.3 |
34.0% |
PHS production |
13,690.7 |
52.5% |
12,908.9 |
66.0% |
781.8 |
6.1% |
OTC preparations |
11,222.7 |
43.0% |
10,671.4 |
54.6% |
551.3 |
5.2% |
Branded |
9,699.0 |
37.2% |
9,038.9 |
46.2% |
660.1 |
7.3% |
Non-branded |
1,523.7 |
5.8% |
1,632.5 |
8.3% |
-108.8 |
-6.7% |
Rx preparations |
2,468.0 |
9.5% |
2,237.5 |
11.4% |
230.5 |
10.3% |
Branded |
2,184.2 |
8.4% |
1,899.6 |
9.7% |
284.6 |
15.0% |
Non-branded |
283.8 |
1.1% |
337.9 |
1.7% |
-54.1 |
-16.0% |
TPP |
11,737.5 |
45.0% |
6,120.2 |
31.3% |
5,617.3 |
91.8% |
Mabthera |
4,256.0 |
16.3% |
0.0 |
0.0% |
4,256.0 |
- |
Velcade |
1,650.7 |
6.3% |
1,649.6 |
8.4% |
1.1 |
0.1% |
Prezista |
1,236.0 |
4.7% |
942.5 |
4.8% |
293.5 |
31.1% |
IRS-19, Imudon |
1,025.6 |
3.9% |
297.2 |
1.5% |
728.4 |
245.1% |
Pulmozyme |
826.0 |
3.2% |
610.2 |
3.1% |
215.7 |
35.3% |
Other TPP |
2,743.2 |
10.5% |
2,620.7 |
13.4% |
122.5 |
4.7% |
Other sales |
241.9 |
0.9% |
134.7 |
0.7% |
107.2 |
79.6% |
Medical equipment sales |
417.2 |
1.6% |
389.9 |
2.0% |
27.3 |
7.0% |
Overall sales of the Pharmstandard Group of Companies |
26,087.3 |
100.0% |
19,553.7 |
100.0% |
6,533.6 |
33.4% |
OJSC Pharmstandard revenue structure, 9M2011
(excluding TPP)
SALES 9m 2011 EXCLUDING TPP |
9m 2011 (million RUR) |
% of total sales |
9m 2010(million RUR) |
% of total sales |
Growth 9m 2011/ 9m 2010(million RUR) |
Growth 9m 2011/ 9m 2010 (%) |
Pharmaceutical products |
13,932.6 |
97.1% |
13,043.6 |
97.1% |
889.0 |
6.8% |
PHS production |
13,690.7 |
95.4% |
12,908.9 |
96.1% |
781.8 |
6.1% |
OTC preparations |
11,222.7 |
78.2% |
10,671.4 |
79.4% |
551.3 |
5.2% |
Branded |
9,699.0 |
67.6% |
9,038.9 |
67.3% |
660.1 |
7.3% |
Non-branded |
1,523.7 |
10.6% |
1,632.5 |
12.2% |
-108.8 |
-6.7% |
Rx preparations |
2,468.0 |
17.2% |
2,237.5 |
16.7% |
230.5 |
10.3% |
Branded |
2,184.2 |
15.2% |
1,899.6 |
14.1% |
284.6 |
15.0% |
Non-branded |
283.8 |
2.0% |
337.9 |
2.5% |
-54.1 |
-16.0% |
Other sales |
241.9 |
1.7% |
134.7 |
1.0% |
107.2 |
79.6% |
Medical equipment sales |
417.2 |
2.9% |
389.9 |
2.9% |
27.3 |
7.0% |
Overall sales of the Pharmstandard Group of Companies |
14,349.8 |
100.0% |
13,433.5 |
100.0% |
916.3 |
6.8% |
Sales of PJSC Pharmstandard-Biolek (
Sales of Pharmstandard-Biolek amounted to RUR 339.5 million. Currently the process of integration of the company into the Phramstandard Group of Companies is underway. It is expected to be completed by the end of 2011. These results were not included in the overall sales of OJSC Pharmstandard for 9M2011. It is expected, that on completion of OJSC Pharmstandard-Biolek (
The share of the Rx preparations in the overall revenue structure of the company amounted to 86.4% or RUR 293.3 million; revenue from sales of OTC preparations amounted to 11.9% or RUR 40.2 million of overall sales.
Sales results for 3Q2011
According to the Company’s unaudited report, its revenue in 3Q2011 decreased by 4.7% amounting to RUR 7,637.2 million which represents a decrease of RUR 373.2 million in relation to the same period of 2010.
The share of sales of pharmaceuticals in the Company’s total revenue amounted to 98.1%.
Pharmstandard’s revenue from sales of medical equipment amounted to 1.8% of its total sales.
· The decrease in sales of pharmaceutical products (including third party products) in 3Q2010 amounted to 4.8% or RUR 381.1 million; the total volume of sales of pharmaceutical products amounted to RUR 7,491.1 million.
· Organic growth of sales of pharmaceutical products (excluding third party products) amounted to 4.2% or RUR 235.9 million; the overall volume of Pharmstandard’s organic sales amounted to RUR 5,410.0 million.
OTC preparations (Company’s organic sales)
Pharmstandard’s revenue from sales of OTC preparations in 3Q2011 totalled RUR 4,580.8 million which represents a decrease of 8.3% or RUR 415.7 million in relation to the same period of 2010.
This decrease of OTC preparations sales was mainly due to decrease of sales of Arbidol® RUR 747.3 million or 33.4% in 3Q2011 vs 3Q2010 sales (RUR 2,240.4 million).Otherwise, Pharmstandard’s OTC products showed sustained growth: Pentalgin® (32.1% or RUR 159.9 million), Flucostat® (27.4% or RUR 41.0 million),Afobazol® (35.3% or RUR 35.3 million), Amixin® (14.7% or RUR 28.0 million), Acipol® (24% or RUR 13.0 million).
In 3Q2010, participants of the Russian market were making pro-active and advance purchases of ARVI preparations, to avoid the shortages of preparations, such as those which occurred in the country in 4Q2009 due to the pandemic caused by the spread of H1N1 virus. During that period of increased sales of preparations for the prevention and treatment of ARVIs, in 3Q2010, sales of Arbidol® increased by 103.8% or RUR 1,138 million (in comparison to the same period of 2009) and totalled RUR 2,233 million.
Sales of OTC preparations (excluding the influence of Arbidol® on such sales), in relation to 3Q2010, grew by 12.0% .
Rx preparations (Company’s organic sales)
Pharmstandard’s revenue from sales of Rx preparations in 3Q2011 totalled RUR 829.1 million and increased by RUR 179.8 million or 27.7% in relation to 3Q2010.
The main drivers of growth of sales of Rx preparations were the following preparations: Rastan® (132.0% or RUR 18.7 million), Phosphoglive® (43.4% or RUR 65.6 million), Combilipen®(65.1% or RUR 39.6 million), Octolipen® (61.4% or RUR 16.8 million), Azitrox® (33.6% or RUR 11.1 million) and Cyclodol® (21.2% or RUR 5.3 million).
TPP (Third Party Products)
Sales of TPP products in 3Q2011 reduced by 8.3% or RUR 179.9 million and totalled RUR 1,984.0 million. The share of TPP sales in the overall structure of sales of pharmaceutical products in 3Q2011 amounted to 26.0%.
VEP (Vital and Essential Preparations)
Sales of preparations included in the VEP list, in 3Q2011, amounted to RUR 3,802.0 million which represents 49.8% of the overall sales of Pharmstandard.
Sales of PJSC Pharmstandard-Biolek (
Sales of Pharmstandard-Biolek amounted to RUR 132.0 million. Currently the process of integration of the company into the Pharmstandard Group of Companies is underway. It is expected to be completed by the end of 2011.
Medical Equipment
From 3Q2011, sales of medical equipment have been carried out through Pharmstandard-Medtechnika LLC. Sales of medical equipment in 3Q2011 amounted to RUR 146.1 million and grew by 5.8% or RUR 7.9 million in relation to the same period of the previous year.
Pharmstandard-Medtechnika LLC was founded in June 2011 as a joint venture, by OJSC Pharmstandard (75%) and the DGM Group of Companies, in order to increase sales of medical equipment.
OJSC Pharmstandard revenue structure in 3Q2011
SALES 3Q 2011 |
3Q 2011 (million RUR) |
% of total sales |
3Q 2010(million RUR) |
% of total sales |
Growth 3Q 2011/ 3Q 2010(million RUR) |
Growth 3Q 2011/ 3Q 2010 (%) |
Pharmaceutical products |
7,491.1 |
98.1% |
7,872.2 |
98.3% |
-381.1 |
-4.8% |
PHS production |
5,410.0 |
70.8% |
5,645.9 |
70.5% |
-235.9 |
-4.2% |
OTC preparations |
4,580.8 |
60.0% |
4,996.6 |
62.4% |
-415.7 |
-8.3% |
Branded |
3,984.3 |
52.2% |
4,373.9 |
54.6% |
-389.6 |
-8.9% |
Non-branded |
596.5 |
7.8% |
622.7 |
7.8% |
-26.1 |
-4.2% |
Rx preparations |
829.1 |
10.9% |
649.4 |
8.1% |
179.8 |
27.7% |
Branded |
740.9 |
9.7% |
548.3 |
6.8% |
192.5 |
35.1% |
Non-branded |
88.3 |
1.2% |
101.0 |
1.3% |
-12.8 |
-12.6% |
TPP |
1,984.0 |
26.0% |
2,164.0 |
27.0% |
-179.9 |
-8.3% |
Prezista |
623.5 |
8.2% |
942.5 |
11.8% |
-319.0 |
-33.8% |
IRS-19, Imudon |
402.4 |
5.3% |
174.5 |
2.2% |
227.9 |
- |
Reduksin |
240.1 |
3.1% |
139.3 |
1.7% |
100.7 |
- |
Mildronate |
222.0 |
2.9% |
225.3 |
2.8% |
-3.3 |
- |
Intelence |
194.9 |
2.6% |
316.0 |
3.9% |
-121.0 |
-38.3% |
Other TPP |
301.1 |
3.9% |
366.3 |
4.6% |
-65.2 |
-17.8% |
Other sales |
97.1 |
1.3% |
62.3 |
0.8% |
34.8 |
55.8% |
Medical equipment sales |
146.1 |
1.9% |
138.1 |
1.7% |
7.9 |
5.8% |
Overall sales of the Pharmstandard Group of Companies |
7,637.2 |
100.0% |
8,010.3 |
100.0% |
-373.2 |
-4.7% |
OJSC Pharmstandard organic revenue structure in 3Q2011
(excluding third party products)
SALES 3Q 2011 EXCLUDING TPP |
3Q 2011 (million RUR) |
% of total sales |
3Q 2010(million RUR) |
% of total sales |
Growth 3Q 2011/ 3Q 2010(million RUR) |
Growth 3Q 2011/ 3Q 2010 (%) |
Pharmaceutical products |
5,507.1 |
97.4% |
5,708.2 |
97.6% |
-201.2 |
-3.5% |
PHS production |
5,410.0 |
95.7% |
5,645.9 |
96.6% |
-235.9 |
-4.2% |
OTC preparations |
4,580.8 |
81.0% |
4,996.6 |
85.5% |
-415.7 |
-8.3% |
Branded |
3,984.3 |
70.5% |
4,373.9 |
74.8% |
-389.6 |
-8.9% |
Non-branded |
596.5 |
10.6% |
622.7 |
10.7% |
-26.1 |
-4.2% |
Rx preparations |
829.1 |
14.7% |
649.4 |
11.1% |
179.8 |
27.7% |
Branded |
740.9 |
13.1% |
548.3 |
9.4% |
192.5 |
35.1% |
Non-branded |
88.3 |
1.6% |
101.0 |
1.7% |
-12.8 |
-12.6% |
Other sales |
97.1 |
1.7% |
62.3 |
1.1% |
34.8 |
55.8% |
Medical equipment sales |
146.1 |
2.6% |
138.1 |
2.4% |
7.9 |
5.8% |
Overall sales of the Pharmstandard Group of Companies |
5,653.1 |
100.0% |
5,846.4 |
100.0% |
-193.2 |
-3.3% |
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