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Pharmstandard Optimistic

Pharmaceutical company Pharmstandard plans to maintain net profit dynamics in 2012 at the same level as last year, chief financial officer Yelena Arkhangelskaya said, Interfax reported.

The company's net profit climbed 23 percent to 8.8 billion rubles ($280 million) in 2011. In the first half of 2012, it fell 27 percent to 3 billion rubles.

The company is hoping to see profits climb in the second half, which is usually when it sees its maximum demand for medicines, Arkhangelskaya said.

Capital investment in the first half totaled 566 million rubles, and the company plans to spend another 1 billion rubles in the second half, she said. Capital investment in 2011 was 1.75 billion rubles.

Pharmstandard CEO Igor Krylov said pharmaceuticals production would develop through acquisitions.

"We are becoming more aggressive with investments. Growth will be ensured through acquisitions," he said.


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