VeroPharm anticipates 16% sales revenue increase in 2012
MOSCOW. May 29 (Interfax) - OJSC VeroPharm , one of Russia's biggest pharmaceuticals makers, expects to see its sales revenues increase 16% this year, the company's General Director Marina Penkova has told the press.
VeroPharm's sales revenues as calculated to International Financial Reporting Standards (IFRS) amounted to 6.348 billion rubles last year.
Penkova said that the company's capital investments this year would run to 1.9 billion rubles, of which it plans to borrow around 1 billion rubles. VeroPharm's investment spending last year amounted to 669 million rubles.
The company plans to open a plant for the production of oncologic and hormonal products in Pokrov, Vladimir Region, she said. Total investment in this project since it began last year has come to 1 billion rubles. Construction is slated to wrap up by January 1, 2014, and full production capacity is expected to be reached by the end of that year.
VeroPharm will be putting 1.8 billion rubles into moving its bandage plant in central Voronezh to the city's outer limits, and is now engaged in preparing the technical documentation for this project. When the plant will open for business has yet to be determined.
The company is also modernizing its plant in Belgorod with the aim of expanding its production facilities. VeroPharm is putting 250 million rubles into this effort. The plant will be getting production lines for the making of medicaments in tablet form and ampoules. The building of these lines is planned for completion also by January 1, 2014.
VeroPharm produces its wares in Belgorod, Voronezh, and Pokrov. Pharmacy Chain 36.6 owns the controlling stock interest in the company.