9 Nov 2009 14:16

Veropharm sales decline 23% to $98.5 mln in 9 mths

MOSCOW. Nov 9 (Interfax) - Veropharm saw sales of finished goods decline 23.1% in January-September 2009 year-on-year to $98.5 million, the company said in a press release.

In ruble terms sales rose 2.7% year-on-year to 3.168 billion rubles.

Prescription drug sales were down 16.5% year-on-year to $68.5 million but rose 10.7% in ruble terms to 2.188 billion rubles. They accounted for 70% of total sales of finished goods.

Sales of adhesive bandages fell 31.7% to $17 million, and were down 7.6% in ruble terms to 552.2 million rubles. Those sales accounted for 17% of total finished product sales.

Sales of OTC drugs declined 4.2% to $10.7 million, or 30.1% to 350.1 million rubles, accounting for 11% of total sales.

Traditional drug sales fell 77% to $2.3 million or 68.1% to 77.3 million rubles and accounted for 2% of total sales.

Sales under the Federal Reimbursement Program totaled $1.5 million or 1.5% of total sales of finished product. Those sales amounted to $3.5 million or 2.7% of total sales in the same period last year.

Veropharm debt totaled $23.8 million at the end of the period, which is less than 25% of the value of net assets. The debt amounted to $27.6 million at the end of the second quarter.

Veropharm began production of five new medicines in the latest nine months. It received registration for seven new medicines in the period, and 16 other medicines are currently at different stages in the registration process.