For management of Rafarma Pharmaceuticals, July was a bustling month of business strategy. The company knocked out a handful of initiatives as it continues to grow as one of Russia’s leading pharmaceutical manufacturers.
In early July Rafarma entered into a new production contract for the manufacture of para-aminosalicylic acid (PAS), which will be marketed and distributed by OOO “Advance Trading,” a leading distributor of PAS in Russia who is responsible for roughly 20 percent of sales of PAS in the Russian market. According to pharmaceutical analysts at DSM Group, the PAS market in the Russian Federation topped $8.2 billion in 2011.
Less than two weeks later, Rafarma entered into another production agreement, this time with JSC F-Synthesis for the production of anti-cancer drug, Imatinib. In 2012, JSC reported sales of $30 million worth of Imatinib, catapulting the company to one of the Top 3 national vendors of the drug. Pharmexpert pharmaceutical business analysts estimate the market for Imatinib in Russia at slightly less than $200 million for the year 2012.
Shortly after its agreement with JSC F-Synthesis, Rafarma announced seven industry professionals as the new board of directors to the company’s operational subsidiary, ZAO Rafarma.
Rafarma wrapped up the month of July with a cooperative research and development effort with Christian Albrecht University in Kiel to develop Liposomal forms, anti-cancer, and anti-tuberculosis drugs for the creation of parenteral medications based on non-dissolvable pharmaceutical substances using encapsulation and liposomes. In addition, the entities will collaborate for the development of products with higher bioavailability through modification of biopharmaceutical characteristics. Rafarma says this is the first of several expected cooperative projects with the University.
Moving into August, Rafarma is at it again, this time announcing that in choosing Terbuny, Russia, for its world-class pharmaceutical manufacturing facility, it has attracted more biotech companies to the area. A new facility specifically devoted to dialysis research and product development has set roots near Rafarma’s plant and the two facilities plan to work in close cooperation for the development of dialysis-specific products.
With a consistent wake of advancements behind it, Rafarma looks to be on track to reach its goal of becoming one of the Top 3 players in the Russian pharmaceutical market by 2018, producing a range of generic and alternative basic pharmaceutical products available for sale at “mass market” prices.
For more information, visit www.Rafarma.com
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