Open Joint Stock Company "Sintez", part of Alexander Vinokurov's and Sergey Zakharov's Marathon Group, had first quarter 2017 net profits that were more than 170% greater than the same period last year. By Russian Accounting Standards they amounted to RUB 255,597,000.
"Last year's results show we're moving at a good pace, and we're trying not to ease up. The company's targets in 2017 are to increase the proportion of pharmacy product sales to 40% of total sales, increase exports to 17% of total sales, and switch to direct contracts with ingredient producers," Andrei Zagorsky, president of CJSC "Pharm-Center" (the managing company of OJSC "Sintez"), said. By year's end we plan to increase production by 2.8% (to RUB 7.28 billion) and sales of finished products by 10.9% (to RUB 7.48 billion).
One of the major shareholders of OJSC "Sintez" is the Rostec State Corporation's Nacimbio. "Skillful management and keeping track of cost effectiveness have brought Sintez strong results real early in the year. I am confident that the company will continue its positive trend, providing the Russian market with affordable and high-quality medications," Nacimbio Holding CEO Mariam Khubieva said.
In 2016 OJSC "Sintez" increased its RAS net profits to RUB 703.7 million, which was 110% higher than the 2015 figure. Company earnings grew 15.8% to reach RUB 6.75 billion.