News

Johnson & Johnson buys ophthalmic business from Abbott

The company Johnson & Johnson announced on Friday, 16 September, that is purchasing ophthalmic business Abbott Medical Optics from Abbott Laboratories for $ 4.325 billion. The transaction is expected to be closed in the first quarter of 2017.
According to the head of Johnson & Johnson Ashley McAvoy, acquisition will help the company to become a leading player in the largest and fastest growing segment. The deal includes products for eye health, drugs used in cataract surgery, as well as (LASIK) laser correction technology.
Sales of Abbott Medical Optics in 2015 amounted to $ 1.1 billion. At the end of trading on the New York Stock Exchange in the Johnson & Johnson shares on Friday fell by 0,32%, Abbott shares rose for 1.82%.

Teva buys Allergan’s pharma distribution business for 500 million US dollars.

 Israelian pharmaceutical company Teva Pharmaceutical Industries Ltd, announced the completion of its acquisition of Irish Allergan Plc global generics business for 40.4 billion US dollars, also announced the purchase from the same company pharma distribution business unit - Company Anda Inc, according to Reuters.
The deal, which is scheduled for completion in the 2nd half of 2016 will account in 500 million US dollars.
Anda specializes in the distribution of generics, branded and non-prescription drugs from more than 300 pharmaceutical companies to pharmacies, hospitals, nursing homes and other medical institutions throughout the United States.
Anda is the fourth largest distributor of generic drugs in the US.
It is expected that in 2016 Anda sales volume s to be about 1.5 billion US dollars, earnings per share - 0.15 US dollar.

The refund for Strimvelis drug in case of inefficiency is guaranteed by the GSK

 The British pharmaceutical company GlaxoSmithKline will supply Strimvelis drug with the refund guarantee in case of inefficiency, FiercePharma reports with reference to the MIT Technology Review.

The drug is designed to treat severe combined immunodeficiency (syndrome "boy in the bubble"). Strimvelis therapy course will cost 665 thousand US dollars.

This is the second drug for gene therapy registered in Europe. First - Glybera Dutch biotechnology company UniQure, is the most expensive medicine in the world, the cost of the course of treatment is 1 million US dollars.

U.S. and German scientists are testing new antimeasles preparation.

 First anti-virus measles drug developed by an international team of scientists has shown good results being tested on animal model. It inhibits the replication of the virus – provocative of measles, and, in case of successful trials on humans, can be used to relieve symptoms and to prevent infection of others. The preparation, has an unpronounceable name ERDRP-0519, an inhibitor of the enzyme RNA polymerase - a key factor replication morbilli viruses, including provocateur of measles.
Developers of the drug, are the specialists of Biomedicine, from University of Georgia, Emory Institute (USA) and Paul-Ehrlich Institute (Germany). They have tested the drug on animals intranasally infected with other morbillivirus – with distemper virus of carnivores, usually causing disease with absolute mortality - on the background of oral therapy with ERDRP-0519. The drug significantly reduced the degree of spread of the virus through the bloodstream throughout the body and allowed the animals not only to survive, but also to acquire a strong immunity to the disease. Animals infected by the same dose of the virus, but receiving the drug after infection, have had a relatively low concentration of virus in the blood and there were no symptoms of the disease. The researchers emphasize that this drug in any case will not replace vaccination, but will be an additional tool in the fight with infection.
Currently, specific drugs for treating measles in clinical practice do not exist. Despite global progress in controlling the spread of infection, mortality statistics from the disease on the planet remains constant since 2007 and is approximately 150,000 deaths per year. In all countries, including developed countries, measles outbreaks occur regularly due to the high contagious infection and a lack of immunization, primarily because of the failure on the part of parents to vaccinate their children.

Source: www. Mednovosti.ru

Monoclonal antibodies will be agents for preventing migraine.

 At the conference of the American Academy of Neurology, successful results of clinical trials of two brand new drugs for the prevention of migraine attacks, were presented. Both drugs are firstly used monoclonal antibodies for the prevention of migraine. The creators promise a new era of medicines in preventive therapy for this disease.
Target against which drugs work, also was not previously involved in order to prevent migraine attacks - monoclonal antibodies block the calcitonin gene-related peptide is synthesized by cells of the central and peripheral nervous system, which plays a key role in the transmission of pain. During the first trials of the drug, 66 percent reduction in the number of attacks per month, was observed. 16 percent of the study participants receiving the drug, were completely missing attacks for the period of three months.
During trials of another drug, patients suffering from migraine from 4 to 14 days per month, for three months were receiving subcutaneous injections of medication twice a week. There was a 63 percent reduction in frequency of attacks per month in the group receiving therapy. Among patients treated with the drug were some side effects, but in general medicine was found to be safe and well digest.
Although both drugs are still on the third phase of clinical trials, according to the representative of the University of California (San Francisco) Peter Gatsby, who participated in the development and testing of both drugs, the results are very promising and have great prospects in preventive treatment of migraine. Migraine affects about 14 percent of the adult population and, according to a global study of health of habitants of the Earth, is in seventh place among disabling diseases.
Source: www. Mednovosti.ru

«Sanofi» is looking for the buyers for its portfolio of generic drugs.

 French pharmaceutical company «Sanofi SA» is considering selling its portfolio of generic drugs. The deal could bring 7-8 billion euros. Currently, many pharmaceutical companies are getting rid of non-core assets. According to economic analysts, «Sanofi» has engaged expert consulting company «Evercore Partners Inc» as advisers, as well as during the recent months was negotiating with potential buyers. Generic portfolio of «Sanofi» consists of drugs for the treatment of hypertension and cardio-metabolic diseases with total sales of about $ 3.7 billion. The company believes that the selling price of a portfolio may two times more than the annual revenue from their sales. Potential buyers of generic division of the French company can become generic and specialized pharmaceutical companies.

Source: www. pharmvestnik.ru

Reduction in state support of the pharmaceutical market in Spain has caused concern among U.S. pharmaceutical companies.

 American pharmaceutical companies have expressed their concern about the reduction of state funding the purchase of drugs and "opaque" policy, which, in their view, Spanish authorities are realizing, in terms of regulation of the national pharmaceutical market. According to the report "Foreign Trade Barriers 2014" U.S. government agency «Office of the US trade representative», policy of the Spanish government to reduce government spending is reducing the patent value of companies and is an obstacle for innovations and development of investments on the pharmaceutical market of country.
Document has been made by the Agency basing on the information received from the American pharmaceutical companies. The concern at the delay in the adoption of a set of new rules governing the prices of medicines and determining the procedure for approval of new drugs by the Spanish government, was expressed in the document. At the current moment, the country has regulations issued in 1990, while the authorities are taking some measures that American companies characterize as "unpredictable" and "devoid of transparency."
The delay with the introduction of new rules in the field of regulation of the pharmaceutical market is also frets the medical community of Spain. Representatives of the medical community have repeatedly expressed their concerns about the increasing difficulties in agreeing the usage of certain cancer drugs in public hospitals. In 2013, public funding of medicines in Spain was reduced by 587 million euros compared with the amount of funding in 2012. Spanish media stated that a challenge of providing the necessary drugs to the citizens in the conditions of economic crisis, is determinate by the increase of lifespan, leading to higher costs of treatment of chronic diseases, as well as the high cost of new branded drugs for these diseases.

Source: www. vademec.ru

In Kazakhstan decreased purchase of local production drugs.

 Purchases of preparations produced by Kazakhstan’s pharmaceutical manufacturers decreased by 25%. Such data gave the president of the association "Kazakhstan’s PharmMedIndustry" S. Sultanov during the meeting of Kazakhstan’s parliament on the socio-cultural development, devoted to the problems of pharmaceutical industry.
Head of pharmaceutical association reported that Kazakhstan’s government purchases of medicines reduced by a forth part, that causes worries of all investors. S. Sultanov also mentioned that with three of five Kazakhstan’s pharmaceutical plants long-term contracts have been terminated and have already occurred problems with foreign investors. In Kazakhstan’s government decree regulating government procurement of medicines within the government volume of medical assistance, according to president of the association for the past four years has been changed for 17 times. "If four times during the year the procurement document is being changed – then how the entrepreneur can get prepared for purchases?" - stated S. Sultanov. Kazakhstan’s parliament deputies believe that the initiative of changes in resolution came from the Ministry of Health of Kazakhstan and other structures, blaming for not playing by the rules and for corruption. Meanwhile, according to the report of S. Musinova - the responsible Secretary of Ministry of Health Kazakhstan, in 2013 Kazakhstan’s manufacturers have released drugs in the amount of 33.5 billion tenge, which is three times more than in 2008. Nevertheless, in the Kazakhstan’s pharmaceutical industry have to admit that by the indicator of “domestic drug supply" the first five-year plan of the state program of forced industrial-innovative development of Kazakhstan for 2010-2014 has been failed.
Source: www.vademec.ru

«Allergan» selects merger partners.

 «Allergan Inc» established contacts with pharmaceutical companies «Sanofi» and «Johnson & Johnson», in order to explore the possibility of merging with one of these pharmaceutical companies as a preventive measure against the acquisition of the Canadian company «Valeant» and hedge fund «Pershing Square Capital».
The management of «Allergan» has not defined yet the final answer to an offer of «Valeant» and is willing to understand whether the deal with a larger buyer will be possible. It is reported that "representatives of investment banks" also contacted the management of «Bayer AG» in order to clarify possible interest in acquiring German pharmaceutical concern «Allergan». Previously, “Valeant” and owned by investor-shareholder B. Ekman hedge fund «Pershing Square Capital» announced that they are making an acquisition offer to «Allergan» of $ 47 billion. Earlier «Pershing Square» bought 9.7% stake in “Allergan”.
Board of Directors of «Allergan» has made a deliverance about the protective measures against hostile acquisitions by «Valeant» and the Fund of Ekman.
The measures are to adopt a new setup on the turnover of the shares of the company, introduced for a period of one year. In accordance with the new rules, if any investor will own at least 10% of the shares of «Allergan», other shareholders will receive the right to buy its shares at a discount. Thus, minority shareholders will be able to prevent an increase in the proportion of shares. «Valeant» has expressed its intention to acquire «Allergan» earlier, however, met with failure on the part of American company. At the same time, «Allergan» is preparing a new proposal for a possible acquisition of the Irish pharmaceutical company «Shire».
«Allergan Inc» - American company, with the main production: "Botox" and implants for cosmetic surgery. Total revenues in 2013 amounted to $ 6.3 billion, with 2 billion from total amount brought sales of "Botox". Sales of ophthalmic preparations «Restasis» amounted to $ 940 million, while sales of implants - 378 million.

"Reorganization" can be made on the Russian Pharmaceutical market.

 On the Russian market of medicines reorganize must be made in order to preserve the modern and affordable original medicines and generics. This was stated by E. Maksimkina, Director of the Department of the Drug Supply and regulatory of turnover of medical production in Russian Ministry of Health, at the National Congress of pharmaceutical workers. According to E. Maksimkina, in Russian pharmacies only a fifth part of drugs are original preparations, all other drugs are generics. "Original drugs only compose 23%. We believe that there is a need for a readjustment of commodity mass market drugs with innovative and best-preserved of generic drugs in the nomenclature and state register, "- said E. Maksimkina.
According to the head of the Department of Ministry of Health, as of 2013 in the Russian register of drugs includes over 20 thousand of preparations, and taking into account the different dosage forms - more than 35 thousand preparations. "In terms of sales value, imported drugs are leading. At the same time, domestic remedies prevail in the range. Taking into account the continuing program of development of medical pharmaceutical industry being realized, I am sure that for business in the future, to produce and to sell drugs will be beneficial " - concluded Maksimkina.
The representative of the Ministry of Health also announced intention to impose quotas number of pharmacies per capita in Russia - this question, as she said, should be discussed by the members of the professional community. Currently, according to the ministry, one pharmacy in Russia is intended for 1450 habitants. If the number of pharmacies will keep growing, it will lead to the lower quality of Pharmaceutical assistance to population. Due to surplus of pharmacies, profitability is reduced, thus, because of a general increase in the number of pharmacy organizations, owners of the pharmacy chains are forced to reduce the number of manufacturing pharmacies and drugstores with a license on narcotic drugs distribution to population.
Source: www.remedium.ru

Plans for introduction of the reference pricing for medicines on the Ukrainian pharmaceutical market were announced.

 During the meeting, of Minister of Health of Ukraine O. Mousia with representatives of the European Federation of Pharmaceutical Industry & Associations and the European Forum of patients, addressed the issue of introduction of reference pricing in the country for the medicines that are purchased with state funds, as well as prescription drugs.
Practice of reference pricing can significantly limit the funds on the reimbursement of the costs of drugs and on the health care system as a whole. This approach is widely used in Western Europe. It is based on the interchangeability of drugs united in the separate groups. WHO does not consider this approach being the way to regulate prices.Ukrainian Ministry of Health plans to conclude long-term contracts with pharmaceutical companies under public procurement to reduce the prices on some of the drugs. Besides, according to Mousia, institution will negotiate the possibility of opening capacity of these producers directly on the territory of Ukraine. Thus, the state can regulate the prices of about 10,000 items of medicines, covering nearly 80% of the market. It is expected that the maximum margin on bulk purchases of drugs will be 10%, and on the retail trading - 25% as maximum. What is now happening with the prices on the medicines in the Ukrainian retail institutions, is unacceptable. Minister have the impression, that pharmacies have become outlets and in reality are not health institutions anymore.
During the meeting, of Minister of Health of Ukraine O. Mousia with representatives of the European Federation of Pharmaceutical Industry & Associations and the European Forum of patients, the adaptation of Ukrainian legislation in the health sector to the EU requirements, which may increase the access of the population to the European medicines, was also discussed. State inspectorate for the control of prices may decide to reference pricing in the nearest future.
According to the Head of the Organization Department and provision of conclusions about the economic justification of expenditures on pharmaceutical product market of the State Inspectorate on the control over the prices S. Stahivsky: "Two draft resolutions will be accepted. Resolutions are developed by the Ministry of Health. On our territory reference pricing will be introduced." Board member of the European Forum of patients T. Shelyagovsky expressed the opinion that the most suitable for Ukrainian health system is Polish way. Poland began developing a new health-care legislation more than 10 years ago. Antimonopoly Committee of Ukraine, after numerous complaints of citizens about the significant rise in prices for the drugs began to check the Ukrainian drug retail market. According to the Anti-Monopoly Committee, the share of imported drugs in Ukraine today is about 70%.
As previously reported, drugs that come to Ukraine from abroad, from February to early April 2014 rose by an average of 20.4 %.
Source: www. vademec.ru

«GlaxoSmithKline» and «Novartis» will create a joint venture for the production of non-prescription drugs.

 Major European pharmaceutical manufacturers «GlaxoSmithKline» and «Novartis» announced their intention to create a joint venture for the production of OTC and to exchange a range of assets.
Representatives of «Novartis» explained that the company will acquire «GlaxoSmithKline» unit for the production of anti-cancer drugs for $ 14.5 billion, while «Glaxo» will pay $ 7.1 billion for the vaccine business of «Novartis», but the company will retain series of influenza vaccines. «Novartis» is planning to sell production of drugs for immunization against influenza virus to a third party. Joint venture with the purpose to sell non-prescription drugs, according to economists’ forecasts, will bring companies annually about 11 billion dollars. “Together we will create first OTC business in the World with the real opportunities for rapid revenue growth," - announced the executive director of «GlaxoSmithKline» A. Witty, adding that portfolios of drug companies complement each other well. Simultaneously with the announcement of business transformation «GlaxoSmithKline» and «Novartis» became aware of the acquisition of the American pharmaceutical company «Eli Lilly» veterinary division of «Novartis» for 9.06 billion dollars in cash. As expected in the «Eli Lilly», this acquisition will be profitable by 2016.

Source: www.remedium.ru

«Pfizer» is getting ready to acquire the pharmaceutical manufacturer «AstraZeneca».

«Bristol-Myers Squibb» expands production cooperation with «Samsung».

  American pharmaceutical company «Bristol-Myers Squibb» and South Korean «Samsung BioLogics» signed their first cooperation agreement in 2013, when the U.S. pharmaceutical manufacturer needed a production partner overseas for the drug for the treatment of melanoma «Yervoy». Currently, company has decided to expand industrial cooperation with «Samsung» due to innovative biologics. On the revised agreement, «Samsung» will produce active substances for a variety of biologics for American company, as well as finished products at the plant in Incheon. «Bristol-Myers Squibb» has two biologics manufacturing business in the U.S.. «Roche» and «Merck & Co.» companies also cooperate with «Samsung» in the industrial sector .
Source: www. pharmvestnik.ru

In 2013, the growth rate of exported pharmaceutical products from China decreased

In 2013 export of pharmaceutical products from China increased by 6.84 %, but at the same time the import of pharmaceutical product has increased by the same amount, reports The PharmaTimes.
China 's export-import of medicines and health products total trade drugs increased by 10.27 % to 89.69 billion dollars, but the positive trade surplus decreased by 12 % - to 12.67 billion dollars, according to the Chamber of Commerce.
The vice-chairman of Chamber Xu Ming, has stated that Chinese pharmaceutical industry enters the critical period of transformation and losing its competitiveness, particularly in the prices.
The export of active substances, which accounts for over 46 % of the total exports of pharmaceutical products index of China, quarterly decreases since the IV quarter of 2012. The most significant decrease was recorded in the III quarter of 2013 - 9.52 %.
According to Xu Ming, most of Chinese manufacturer’s problems are related to regulatory and registration obstacle, as well as the quality requirements in many foreign markets. He encourage Chinese pharmaceutical companies to work more closely with foreign producers and to obtain international certificates.
In the report of the Chamber, it is also stated that exports of medical equipment increased by 9.92 %,
Exports of traditional Chinese medicine has increased by 25.54 % and amounted to 3.14 billion dollars in 2013. Growth was stipulated by the increase of demand for herbal extracts and herbal herbal medicines.

Source: «Фармацевтический вестник» from 21.02.2014

The Ministry of Health of Kazakhstan denied permission to increase prices on drugs

Ministry of Health of Kazakhstan denies information about the permission to increase prices on medicines in pharmacies during the Memorandum, and reserves the right to apply to the relevant authorities for misinformation.
In order to prevent the increase of prices on medicines in the retail sale to the public, the Ministry of Health took the following actions:
On the February 13-th, 2014 between the Ministry of Health and professional associations the Memorandum was signed to restrain the prices of medicines:- "Support and development of the pharmaceutical activity"
- "PharmMedIndustry of Kazakhstan"
- "Representatives of Pharmaceutical companies"
- "Distributors of pharmaceutical products "
- Association of legal entities " National Chamber of health".
The main objective of Memorandum is to fix the prices for 224 names of drugs that are not included in the guaranteed volume of free medical help, the most popular and frequently used by socially vulnerable segments of the population, prices on these medicines cannot be higher than the settled on 10.02.2014, Memorandum allows to expand the list of the drug names, but not to reduce.
The Ministry has such experience, as during previous years the Memorandum was also signed to restrain the prices on medicines.
The Memorandum was sent to all regions.
In each region akimats have already concluded similar memorandum in which fixed prices settled on 10.02.2014. In some regions, the list of drug names has expanded. Thus, in the East Kazakhstan region the list includes 270 names.
The Ministry has developed the Headquarters to react on the facts of the overpricing of the most commonly used by socially vulnerable segments of the population medicines, telephone number of Headquarter: 8 (717) 2 74-31-28. 24/7 Drug Information Analysis Center (8800 080 88 87).
In all regions the situation in the pharmaceuticals market is being constantly monitored. It should be noted that the situation remains stable, prices are not rising.
There have been unitary incidents, for example, in East Kazakhstan in 2 pharmacies on February 19-th, 2014 there was an increase of some medicines prices. But together with local authorities necessary actions were taken.
Ministry of Health appeals to the public to contact the headquarters by the telephone numbers mentioned above, in case of detecting the drug overpricing specified in the Memorandum.
The Ministry informs that the Published by some media information about the increase of the prices on medicines is misleading.
Thus, in the Memorandum signed in the East Kazakhstan region , Hilak forte price - 1500 tenge (not 2500 as stated in media sources), paracetamol - 25 (not 28), oxolinic ointment - 120 tenge (not 400 tenge).

Janssen transmits to "Pharmstandard" company the complete production cycle of the drug "Velcade"

It is the first time, then huge international pharmaceutical company, among the top ten of global pharmaceutical market, transmits the complete production cycle of innovative drug to the partner in the Russian Federation.
The Janssen company, a division of pharmaceuticals «Johnson & Johnson," announced the transmission of full-cycle production in Russia of the drug "Velcade" (INN: bortezomib) to " Pharmstandard" Inc.. For the production of this high-tech drug for the treatment of multiple myeloma (MM) - malignant lesion of bone marrow - the company has transferred to the Russian manufacturer Janssen patent-protected technology to produce the drug in lyophilized form, and "Pharmstandard" Inc. organized a new manufacturing facility, equipped in accordance with GMP standards.
Cooperation on technology transmission between companies Janssen and "Pharmstandard" started in 2008 with a number of projects on the secondary packaging of several original products, within the framework transmissions of analytical and microbiological quality control methods have been successfully implemented.

Actavis acquires the Forest Labs

The pharmaceutical company Actavis plc has signed an agreement to acquire the U.S. pharmaceutical company Forest Laboratories Inc., Reports RTT News. Transaction amounts to $ 25 billion (89.48 billion dollars per share) in cash and stock.Under the deal, shareholders of Forest will receive 0.3306 of ordinary shares of Actavis and 26.04 USD in cash for each paper of the American company. It is expected that shareholders of Forest nominally will own approximately 35 % of the shares. According to analysts' estimates, in case of successful implementation of the deal, the volume of sales of the incorporated company will be more than $ 15 billion in 2015. The incorporated company will be headed by CEO and Chairman of the Board of Directors of Actavis Paul Bizzaro. Joint management team of Actavis and Forest will be leading the company. Three members of the Board of Directors of the Forest will be part of the Board of Directors of Actavis after the deal will be approved by the board of directors of both companies. As a result of a deal, the product portfoilo of Actavis will be supplemeted by the drug Namenda for treatment of Alzheimer's disease and antihypertensive Bystolic. In January 2014 the company Forest acquired the Aptalis Pharma Inc., company which is specializing on the development of drugs for the treatment of gastrointestinal diseases and cystic fibrosis, for 2.9 billion USD.

In fiscal year 2015, Indian export of medicines will exceed domestic sales

Indian rating and research company India Ratings & Research raised rating for the pharmaceutical sector in the fiscal year 2015 on rising exports, reports FirstWord Pharma citing the Business Standard newspaper.
According to analysts, the growth of the Indian pharmaceutical market will be determined by high univocal indicator, and profits of Indian companies will increase by expanding production capacities.
Moreover, experts of India Ratings & Research expect export growth in the medium term, as during next three years the original drugs with total sales of $ 92 billion will lose patent protection. The global demand for generics and increase of the approved Indian generics in different countries will also contribute to export development.

Pharmaceutical manufacturers of India are studying Georgian market

More than 40 Indian companies, specializing in the production of medicines and traditional Indian medicine arrived in Tbilisi, informed “Vestnik Kavkaza”.
The main objectives of the visit, organized by the Industrial Chamber of Commerce and Ministry of Foreign Affairs of Georgia and the Council on the Promotion of export of pharmaceutical products in India (Pharmexcil), are the study of the Georgian market, business opportunities and establishment of contacts with local companies.

Profit of «Grindeks» in the first nine months of 2013 – 5.4 million lats

On 29 November, the financial statements of the JSC «Grindeks» on the first nine months of 2013, submitted to “NASDAQ OMX Riga”, indicate that the Group’s turnover in the first nine months 2013 was 56.5 million lats, which is by 6.4 million lats or 12.8% more than in the first nine months of 2012. Whereas, the net profit of the Group, related to the shareholders of the holding company, in the first nine months of 2013 was 5.4 million lats that comparing of the first nine months of 2012 has increased by 0.4 million lats or 8%. The gross profit margin in the first nine months of 2013 was 59.5%, whereas, the net profit margin was 9.6%. In the first nine months of 2013 the products manufactured by the Group were exported to 55 countries all over the world for the total amount of 53.6 million lats that comparing to the first nine months of 2012 has increased by 6.2 million lats or 13.1%.
The sales volume of the final dosage forms of «Grindeks» in the first nine months of 2013 was 50.1 million lats and has increased comparing to the same period of the previous year by 3.4 million lats or 7.3%. The main markets of the final dosage form are Russia, other CIS countries, Georgia and the Baltic States. The sales amount in Russia, other CIS countries and Georgia in the first nine months of 2013 was 43 million lats, which is by 2.6 million lats or 6.4% more than in the first nine months of 2012. Whereas, the sales amount of final dosage forms in the Baltic States and other European countries reached 7 million lats, which is by 0.7 million lats or 11.1% more than in the first nine months of 2012.
The sales of active pharmaceutical ingredients in the first nine months of 2013 reached 6.4 million lats, which is by 3 million lats or 88.2% more than in the first nine months of 2012. The main export markets of the «Grindeks» active pharmaceutical ingredients are the Netherlands, Germany, Canada, Ireland and Japan. The most demanded active pharmaceutical ingredients of «Grindeks» are zopiclone, oxytocin, ftorafur (tegafur) and UDCA (ursodeoxycholic acid).
JSC «Grindeks» Chairman of the Board Juris Bundulis: “In the first nine months of 2013 the turnover and profit growth is significant, but less than originally planned. «Grindeks» has always been the long-term development-oriented company, and therefore we will continue to invest in both product portfolio development and acquisition of new markets. We will continue activities in China and the Scandinavian countries, as well as we will realize a number of important niche projects in several Western Europe countries. We will pay even more attention on generics portfolio development, research and development of original products, effective cost management and improvement of performance of 13 representative offices”.

Torrent Pharmaceuticals acquires business in India and Nepal at Elder Pharmaceuticals

Indian pharmaceutical company Torrent Pharmaceuticals Ltd acquires a business in India and Nepal from the other Indian pharmaceutical manufacture Elder Pharmaceuticals Ltd in India for 20 billion rupees (324.1 million dollars), according to Reuters. Proceeds will go to debt reduction. Elder will continue production at its plants for next three years. There are 30 types of medicines for women's health in assortment, treatment of pain, wound healing and nutraceuticals.

As it was previously reported by Reuters, in the acquisition of businesses of Elder were interested Indian unit of French Sanofi SA and investment fund Carlyle Group.

Gedeon Richter acquires Brazilian pharmaceutical company

Hungarian pharmaceutical company Gedeon Richter Plc. announced about the signing of an agreement to acquire a 51% stake from the owner of Brazilian company Next Pharma Representação, Importadora, Exportadora e Distribuidora Eireli - EPP (Next Pharma), reports FirstWord Pharma.

This will allow the direct presence of Gedeon Richter in the Brazilian pharmaceutical market, which is one of the fastest growing in the world.

Under the agreement, the Hungarian company has the right to purchase the remaining 49 % stake after a certain time.

Next Pharma will be renamed to Gedeon Richter do Brasil Importadora, Exportadora e Distribuidora S.A.

The set task of Gedeon Richternew division – is the registration of a number of medicines for women health, including Esmya and organization of a distribution network.

In 2012, sales of Gedeon Richter totaled about 1.1 billion euros (1.5 billion dollars). Market capitalization of the company - 2.3 billion euros (3.1 billion dollars).

Bayer acquires Algeta

German chemical and pharmaceutical company Bayer announced the acquisition of its partner - the Norwegian biotech company Algeta for 17.6 billion Norwegian Krone ($ 2.9 billion), or 362 Krones ($ 59) per share, reported FirstWord Pharma.
This is 37% above the closing price of shares of the Norwegian company on November 25, when the company acknowledged the preliminary proposal for the acquisition for 336 Krones ($ 55) per share.

As a result of a deal, Bayer receives rights on the drug for the treatment of prostate cancer Xofigo (radium 223 dichloride).

According to the forecast of Bayer, peak sales of Xofigo may reach at least 1 billion euros ($ 1.4 billion).

The deal is expected to be completed in the first quarter of 2014

Participation in Uzbekistan-Latvian business forum, during the official visit to Uzbekistan of the Transport Minister of the Republic of Latvia A.Matiss. Tashkent, Uzbekistan, November 13-14, 2013.

During the official visit to Uzbekistan, Transport Minister of the Republic of Latvia A.Matiss, the “Astra Pharma” company participated in Uzbekistan-Latvian business-forum organized for representatives of business cycles of Uzbekistan and Latvia. The events were held in Tashkent, with the participation of Transport Minister of Uzbekistan and other officials and business elites of the two countries.

“Astra Pharma” company supplies the market of Uzbekistan with medicines, including the “cool chain” supply regime. Company is the European importer of pharmaceutical products on the market of Uzbekistan. Besides, the representative office in Tashkent allows the company to offer the most optimal solutions and to ensure high quality of all the supply chain elements in Europe, as well as pharmaceutical outsourcing and distribution.