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Rated by "TechUp" for the fourth time, GEROPHARM is carrying out a project on insulin substance production aimed to expand export

29 October 2015

Having shown high growth rates in 2015, GEROPHARM Group was included into the top rating "TechUp" for the fourth time in a row. In many respects, the company’s dynamics is caused by an active development of the biotechnological area. The company has already an industrial platform for insulin production operating on the full cycle basis - from a scratch substance to a finished filled drug form – at its disposal. However, the company continues to broaden this area.

"We are actively working on the development of analog insulins," comments Petr Rodionov, the head of GEROPHARM Group."It is the latest generation of drug products with ultrashort- and long acting profiles. They are more convenient for patients. Nowadays there are 4 projects under development in the company’s pipeline. We have already applied for the registration of the first product in analogue series. We are also planning to introduce the second one by the end of this year. The full line of Russian insulins will be introduced to the market in 2019."

"Today we are carrying out a project focused on insulin substance production", said Petr Rodionov. "The total capacity of both current and new plants will make 650 kg of the substance per year. The cost of the project is estimated at the level of 2 billion rubles. The new plant capacity will be just enough to cover 100% of Russia’ insulin demand, as well as to develop export. Now we are considering a number of agreements on our substances supply to foreign countries."

"The project has already been launched", said the expert."All necessary approvals have been received, and all agreements on the project financing have also been made: the half of investments are the company’s funds, another half – the loans attracted from the leading banks (Sberbank of Russia, VTB bank) and the funds fromthe Industrial Development Foundation. Taking into account our experience, we are ready to finish the project in a year and a half. The new production will be put into operation in the Q4 in 2016. There is no reason to spend the allocated public financial resources in order to create the same production platform from a scratch, when there is already a local operating industrial platform, which will be expanded next year, and economically successful export-oriented technology."

Within the last 3 years the company’s revenue growth rate remains above 20%. The projects on the biotechnological area development is an important part of the company’s strategy. Mainly, it was the company’s stable growth that provided a considerable success in the insulin market this year. With the share market of 1% in 2014, the company showed almost 10-fold increase of its share. According to 2015 forecasts, the share in the segment of genetically engineered insulins will be no less than 10%. As the part of the government procurement programme, the company’s drug products are now being delivered to almost all regions of the Russian Federation.

Reference:

Initially "TechUp" rating was arranged by RVC in partnership with the Association of Innovative Regions of Russia (AIRR) in 2012 with the support of Rusnano and the Foundation for Assistance to Development of Small Research and Technology Enterprises. In 2013, PwC joined the rating making team as a Project Partner. In 2014, MSP Bank became another Project Partner.

The annual rating "TechUp" indicates the most perspective and fast-growing companies developing and delivering essentially new technologies and products to Russian and global markets. This rating reveals the core factors leading to the companies’ success, and exposes their strategic plans and the barriers, preventing their dynamic development, and also shows the results of using state support tools. All this information is necessary to improve state programmes aimed to stimulate the development of technological business, and create more effective measures, which are supposed to raise the competitiveness of Russian companies and increase exports of their production and services to foreign markets.

Leaders of the rating are the fast-growing high-tech companies from various regions of the Russian Federation, steadily showing above-average performance in their sector over the last three years.

The current rating methodology was developed by PwC in 2013 and modified in 2014. While developing the methodology, PwC used its experience in conducting similar studies and analysis of authoritative international research and ratings of innovative companies.

The National Research University Higher School of Economics (HSE) became a partner of RVC in terms of "TechUp-2015", revealing the list of fast-growing high-tech companies. It will be the fourth rating arranged by RVC together with the Association of Innovative Regions of Russia (AIRR), PwC and MSP Bank.

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