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2013 Results. Strong Local Industry as Priority

11 April 2014

Russian pharmaceutical industry continues to develop the directions set by the Federal Strategy PHARMA-2020. New scientific research centres and production facilities are opened in the regional clusters, arrangements are made for GMP standards implementation, development of new pharmaceuticals is initiated. Local industry builds its capacity; market share of domestic drugs keeps growing.

GEROPHARM gradually continues implementing projects as part of the import substitution provided by the federal strategy. As a part of its long-term corporate strategy, the company builds up its presence in the Russian market and expands its export horizons. As compared to 2012, its revenue growth amounted to 19.1%. Annual growth rates throughout the company’s history are maintained within 25.2% thus exceeding the Russian pharmaceutical market growth with similar 15.1% rate for the same period. Therefore, the growth dynamics show that the company’s growth outperforms the market for the last 5 years.

In 2013, GEROPHARM’s Cortexin® and Retinalamin® were included in all approved standards of medical care under relevant indications; these standards are binding for Russia starting from 1 January 2013. GEROPHARM’s share of state procurement supplies increased by 21% in 2013 as compared to 18% in 2012.

According to IMS Health, Rinsulin® R and Rinsulin® NPH (genetically engineered human insulin) produced by GEROPHARM Group showed a maximum sales gain in 2012 as compared to other insulin manufacturers. Moreover, the annual results show that Rinsulins take the 2nd place in monetary terms and the 1st place in physical terms in increasing their share in the market of genetically engineered flask packaged insulins.

In 2013, the company expanded its product line by releasing Levetinol®, a modern drug targeted for treatment of various forms of epilepsy.

The main event of the year for GEROPHARM, Group of Companies was the opening of GEROPHARM-Bio plant in the Moscow Region (Obolensk). The plant is the first Russian full-cycle plant manufacturing genetically engineered human insulin: from the substance synthesis to the finished dosage form. Opening of a new plant is the important step for GEROPHARM and contribution to development of local pharmaceutical industry; the newly opened facility will facilitate the import substitution of vital drugs for diabetes treatment and the drug safety promotion within the country. The commissioning of GEROPHARM-Bio, JSC is included in the 2013 - 2018 Activity Plan of the Ministry of Industry and Trade of the Russian Federation. The project investments amounted to RUB 1.5 billion.

The plant is expected to produce genetically engineered insulins in flasks, cartridges and pens, as well as other drugs for treatment of socially significant diseases which are being developed in SEZ “Saint Petersburg”, Neudorf Site. There are currently more than 20 projects in the field of endocrinology, neurology, ophthalmology at various development stages; among them 3 projects (including development of analogue insulins) are implemented under federal target programs of the Ministry of Industry and Trade of the Russian Federation and the Ministry of the Education of the Russian Federation.

In 2013, GEROPHARM received a number of prestigious regional and federal awards. The company has been in the top list of "TechUp" Rating of high-tech fast developing companies for the last 2 years; TOP-30 in 2012 and TOP-10 in 2013. GEROPHARM-Bio won in the category New Working Places for New Economy as part of the Governor’s of the Moscow Region Award Nashe Podmoskovie. The company’s photo project “Diabetes in Persons” presented for the first time at the official opening of the new plant won PROBA-IPRA Golden World Awards 2013 in the category Best Social PR-Project and became the winner of Silver Archer All-Russian Award.

2013 was the year of several nation-wide social projects targeted for providing assistance to children with various neurological conditions and for performing various activities as part of the World Diabetes Day. Such outreach work which raises the people’s awareness of risks of social important diseases along with the company’s principal activity is the contribution to addressing urgent health issues.

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