Under the set guarantee limit for liabilities of OJSC Pharmstandard, VTB Bank issued 3 guarantees worth RUB 1.6 bln for the Ministry of Health and Social Development of the Russian Federation. The guarantees are provided to fulfill the company’s obligations under federal medical supply contracts signed with the Ministry of Health and Social Development of the Russian Federation.
“We are glad to extend cooperation with the industry’s top player, as we are striving to strengthen the VTB’s leading position in servicing the major companies. Cooperation with Pharmstandard Group will definitely contribute to the industry’s development”, said Nikolay Ustinov, the head of the VTB’s Second Corporate Department.
Phramstandard is the leader of the Russian pharmaceutical industry in R&D and production of modern medicinal products (the company’s portfolio contains over 250 products with 86 of them included in the List of Vital and Essential Pharmaceuticals). The company’s market-leading brands are Arbidol, Complivit, Pentalgin, Amixin, etc. Pharmstandard operates three modern pharmaceutical manufacturing facilities: JSC “Pharmstandard-Leksredstva” in Kursk, JSC “Pharmstandard-UfaVITA” in Ufa, JSC “Pharmstandard-Tomskhimpharm“ in Tomsk and medical equipment factory JSC “TZMOI” in Tyumen. In 2009, the company’s sales amounted to RUB 24 bln.