Pharmstandard 1H net profit up 51.5% year on year

Russian drugmaker, Pharmstandard, has posted a 1H 2011 net profit of 4.189 billion roubles under IFRS.

The net result is up 51.5% year on year with 1H EBITDA up 42.3% year on year to 5.446 billion roubles, on the back of a 59.8% year on year increase in revenues to 18.450 billion roubles.The company says the figures reflect a 17% year on year increase in over the counter sales to 6.641 billion roubles, coupled with a 3.2% year on year increase in prescription sales to 1.638 billion roubles.Pharmstandard noted it had invested 731 million roubles into the development of manufacturing and warehousing capacities Including construction of new storage facilities and modernization of manufacturing facilities at OJSC Pharmstandard-Leksredstva and OJSC Pharmstandard-Ufavita, as well as commencing construction of cytostatic products production facilities at OJSC Pharmstandard-Ufavita.