The Kurgan company Sintez increased its revenue by 42% in Q3
On November 13, 2020, Sintez OJSC disclosed its financial results for 9 months of 2020 under RAS (Sintez OJSC is part of the Binnopharm Group holding owned by Sistema PJSFC; Nacimbio of Rostec State Corporation is a shareholder of Sintez OJSC). Company revenue has increased by 42% in comparison to Q3 results for 2019, and amounted to RUB 10.362 billion. At the same time, net profit increased by 45% year-on-year to RUB 1.145 billion.
"This Q3 was challenging for Sintez. Production facilities had to operate at full capacity and around the clock to meet the increased demands of hospitals and retail outlets due to the pandemic. We had to rapidly increase the production of antibiotics by an average of 30%”, says Rustem Muratov, General Director of the Binnopharm Group. “We supply products both to the hospital market and to pharmacies through our distributor network”.
Over the 9 months of 2020, sales of Sintez OJSC in the hospital segment have nearly doubled in value terms, and increased by 29% in the retail segment. The over-the-counter analgesics Diclofenac and Ibuprofen, and the antibiotic dispensed with a doctor's prescription, Ceftriaxone, became the sales leaders.Sintez OJSC manufactures approximately 300 million packages of medicine annually. The company is leading the market of Russian antibiotics manufacturers.