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Pharmstandard OJSC reports its 9M/Q3 2014 sales results Moscow, October 30, 2014 - Pharmstandard OJSC (LSE: PHST IL, RTS: PHST RU) (further "Pharmstandard" or the "Company") announces its unaudited 9M/Q3 2014 sales results. On April 1, 2014 OTCPharm PJSC (further "OTCPharm"), OTC business that was spun-off from Pharmstandard OJSC, started independent operating activities. As of Q2 2014 OTCPharm sales are no longer included into Pharmstandard sales and will be recognized in OTCPharm statements. Sales highlights.
Pharmaceutical products. Sales results. Organic pharmaceutical sales in 9M 2014 amounted to RUR8 984m (-45%) vs RUR16 462m in 9M 2013. The structure of sales changed as a result of the spin-off with 49% accounted for by OTC products and 51% by Rx products. Organic prescription product (Rx) sales in 9M 2014 reached RUR4 566m (+RUR23m/+0.5%). Key growth drivers remain unchanged: Phosphoglive®, Combilipen® and Octolipen® (+RUR417 in total). A significant effect (-RUR236m) was caused by relocation of Rx forms of Pentalgin, Codelac and Termicon to OTCPharm portfolio and revenue as of Q2 2014. Organic over-the-counter (ОТС) product sales in 9M 2014 reached RUR4 419m (-63%). The majority of OTC products was moved to OTCPharm portfolio with the revenue being recognized in OTCPharm independent statements. Spin-off effect. In April 2014, to launch operating activities of OTCPharm, all finished goods of OTC products and raw materials for manufacturing of these products were sold to OTCPharm by the Group at the amount of RUR3 596m. Additional sum of RUR187m stands for these items in Q3 2014. The total amount of revenue for this segment stands at RUR3 783m. Services to third parties. The Company provides services to third parties which were reclassified to regular revenue in 2014. These services include contract manufacturing and agency contracts with OTCPharm. This part of company revenue amounted to RUR2 180m as of 9M2014. Contact Manufacturing. The Company's subsidiaries provide services for the manufacturing of certain products from the raw materials owned by customers. Since 2014, the management of the Group is classified contractual manufacturing as a regular revenue. Thereof, Pharmstandard reclassified income from contractual manufacturing accounted previously on net basis from other income to revenue. Agency Fees. The Company holds agency contracts with related parties for distribution and sales of certain products. Since 2014, the management of the Group classified agency fee income as a regular revenue. Thereof, Pharmstandard reclassified agency fee income from other income to revenue and for the purpose of comparative analysis, the prior year figures were restated accordingly. TPP sales in 9M 2014 added up to RUR8 487m (-21%) (vs RUR10 678m in 9M 2013). Government procurement. 7 Nosologies Federal Program. Government procurement segment reached RUR4 494m in 9M 2014 (-17%/-RUR906) with Mabthera®, Coagil®, Infibeta® and Velcade® declining for the total sum of RUR1.3bn y/y due to relocation of auctions.
Commercial segment
9M 2014 medical equipment sales reached RUR512m (-25%/-RUR167). 9M/Q3 2014 Sales structure.
Q3/9M 2014 Sales Results Conference Call Notice of 9M/Q3 2014 Sales Results - announcement date Moscow, October 30, 2014 - OJSC Pharmstandard (LSE: PHST LI, RTS: PHST RU) will be announcing its 9M/Q3 2014 sales results on Thursday, October 30, 2014 at 17:00 PM Moscow time. Pharmstandard takes pleasure to invite you to participate in 9M/Q3 2014 sales results Conference Call followed by a Q&A session. Conference Call will take place on Thursday, October 30, 2014 09:00 New York 14:00 London 17:00 Moscow UK Call-in Number: +44 (0)20 3427 1915 US Call-in Number: +1 646 254 3366 Russia Call-in Number: +7 495 705 9450 Confirmation code: 7662718 Pharmstandard will be represented by: Igor Krylov, CEO Irina Bakhturina, Head of IR Conference call presentation will be available on October 30, 2014 The conference call replay will be available through November 5th, 2014 International Replay Number: +44 (0)20 3427 0598 US Replay Number: +1 347 366 9565 Russia Replay Number: +7 (495) 705 9453 Replay Access Code: 7662718 Contacts: Irina Bakhturina Head of Investor Relations Pharmstandard OJSC Tel: +7 495 970 0030 ext 2824 E-mail:ir@pharmstd.ru About Pharmstandard: Pharmstandard OJSC (www.pharmstd.com) - Russia's leading pharmaceutical Company that develops and manufactures high-quality modern pharmaceutical products which meet the requirements of the healthcare system and the expectations of patients. The Company's production assets consist of 8 pharmaceutical plants located in Kursk, Ufa, Tomsk, Vladimir and in Ukraine's Kharkov and 1 medical equipment plant in Tyumen. Pharmstandard shares and GDRs are traded on the RTS-MICEX and LSE, respectively. 30.10.2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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