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.
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.