Russia’s Veropharm RAS net profit triples on year in Jan–Mar
Release Date: 2011-05-19
The net profit of Russian pharmaceutical producer Veropharm more than tripled to 311.247 million rubles in January–March from 85.673 million rubles in this period of 2010, as calculated under Russian Accounting Standards (RAS), the company said in a report Tuesday.The net profit of Russian pharmaceutical producer Veropharm more than tripled to 311.247 million rubles in January–March from 85.673 million rubles in this period of 2010, as calculated under Russian Accounting Standards (RAS), the company said in a report Tuesday. Revenue almost doubled to 1.043 billion rubles in January–March from 536.801 million rubles in this period of 2010, while the gross profit soared 93% on the year to 545.887 million rubles. Veropharm, or Verofarm, is a subsidiary of the Pharmacy Chain 36.6, one of Russia’s largest pharmaceutical companies in terms of sales.
Verofarm OAO (Veropharm OJSC) is a Russia-based generic pharmaceutical manufacturer. It has three main facilities: in Voronezh, which manufactures adhesive bandages and medical plasters; in Belgorod, which is engaged in readt-made medications, and in the Vladimir Region (the Pokrov plant) which produces oncology products, among others, including liquid injectables, sprays and freeze-dried injectables. It has four subsidiaries located in Russia, Ukraine and Cyprus. Verofarm OAO sells its products on the domestic market, as well as exports them to Serbia, Montenegro, Latvia, Lithuania, Estonia and the Commonwealth of Independent States countries. The Company is a member of the Association of Russian Pharmaceutical Manufacturers.
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