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«Geropharm»: results of the first half of the year 2010 – realization of strategic decisions

25 August 2010

For the pharmaceutical industry 2010 became the year of putting into life strategic plans according to the decisions made earlier and aimed at a more active development of the branch.

In several regions the formation of pharmaceutical clusters has begun. The concept of the pharmcluster development in St. Petersburg has been approved in April, 2010. “Geropharm” company took active part in realizing the given concept.

According to the long-term development strategy, ООО “Geropharm” is carrying out the project of building a factory for producing injection preparations, and this happens as part of the pharmcluster in town of Pushkin. On June 19th, 2010 at St. Petersburg Economic Forum V. I. Matvienko, the Governor of St. Petersburg, and P. P. Rodionov, the Director of “Geropharm” company, signed the investment agreement. On the new manufacture, which meets the GMP requirements, the production of the original Russian preparations, innovative products of the company, and generic drugs having priority from the point of view of import substitution, will be carried out.

Together with the factory construction, company plans to open a research laboratory in a special economic zone (SEZ) "Neudorf". Here, the efforts of the company’s experts will be directed at the development of new medical products, which will later become commercially available after their production at the company’s factory in Pushkin.

On July 20th, 2010 at the opening of the administrative and business center of SEZ "Neudorf", E. S. Nabiullina, the Minister of the economic development of the Russian Federation, handed a symbolical key for the opening of the center to P. P. Rodionov, the representative of “Geropahrm”, as the company is one of the first residents of SEZ. Giving his speech, P. P. Rodionov mentioned that the newly formed St.-Petersburg pharmcluster can finally become similar to PharmSkolkovo, because St. Petersburg has a combination of the strong scientific base and good human resources necessary for the branch.

Putting the given projects into life will promote the development of “Geropharm”’s export activities. The company has entered the Russian Chamber of Commerce and Industry in June, 2010, in order to expand the company’s business contacts and find potential foreign partners.

“Geropharm” continues to work in its Russian market spheres, but also looks out for new opportunities. In the whole, the progressive growth of the Russian pharmaceutical market was seen in the first half of 2010. Sales of medicines have grown up to 15% (in terms of dollars) (hereinafter the data provided by CMI "PharmExpert"). One of the largest segments of the Russian pharmmarket is the segment of Nootropic drugs for treatment of cerebropathy. The value of this segment has increased by 12% (in terms of US dollars) in the first half of 2010. The gain indicator was below the market growth in general - this was caused by the stagnation of sales of some popular medicines in this segment. Sales of one of the most popular preparations of “Geropharm” (from the segment of Nootropic drugs) were much higher than the market growth data: the gain reached 29 % (in terms of US dollars). The sales of this drug enjoy stability and take the second place in the market share (12%), thus increasing it by 1.5% (in terms of value).

The activity of “Geropharm” aimed at the production of the original Russian drugs and the development of new preparations, helps to reach the goal formulated as part of the state strategy for the development of the pharmaceutical branch - "Pharma-2020" - to fill the country’s market with the Russian high-quality medical preparations.

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