OTCPharm boosts revenue 8% in H1 to 6.332 bln rubles
MOSCOW. Aug 27 (Interfax) - OJSC OTCPharm, which received the over-the-counter business of Pharmstandard , posted revenue of 6.332 billion rubles in H1 2014, the company said.
This figure is 8% higher than what the corresponding Pharmstandard division had during the same period of last year. The pharmaceuticals company had revenue of 3.513 billion rubles in Q1 2014, down 16% in comparison with Q1 2013, and in Q2 - 3.37 billion rubles, up 45% compared to Q2 2013, OTCPharm said in a presentation.
The fall in sales volume in H1 was attributed to a decrease in the number of colds and viral infections, OTCPharm said.
OJSC OTCPharm was registered at the end of December 2013. OTCPharm shares (145,422,732 shares) were distributed among Pharmstandard shareholders at a ratio of 1:4 - for one Pharmstandard share, there were four OTCPharm shares. The controlling stake is owned by Augment Investments Ltd, whose beneficiaries are Viktor Kharitonin and Yegor Kulkov. OTCPharm has operated since April 1.
The rights to 27 non-prescription brands were transferred from Pharmstandard to OTCPharm as well as the contracts for the production of medicines at the enterprises of the parent company and for the supply of ingredients and agreements with distributors.
In addition Pharmstandard transferred several companies to OTCPharm: CJSC Vindexpharm (the owner of rights to the Acypol trademark), Donelle Company Limited (Afobazol) and Bever Pharmaceutical (which has a long-term contract for production of substances used in the manufacture of Arbidol and Afobazol).