MOSCOW, Jan. 28, 2014 /PRNewswire/ -- Rafarma
Pharmaceuticals (OTC:RAFA) and St.
Petersburg-based Pharmsynthez have opened discussions for
Joint Venture Production.
At meetings initiated by Governor Oleg
Korolev of Lipetsk, Management from Rafarma and Pharmsynthez
have agreed in principal to commence a 'joint venture production
plan', with the potential to substantially increase revenues for
both companies. The agreement is contingent upon a satisfactory
technical audit of Rafarma's facilities by Pharmsynthez to be
conducted next month.
The joint venture production plan calls for various Pharmsynthez
pharmaceutical products to be manufactured in Rafarma's facilities,
almost doubling capacity and expanding market share accordingly.
The Ontological and Antibiotic products to be produced currently
have domestic revenues of approximately $250,000,000. While Pharmsynthez has an existing
market share of approximately 20%, the joint venture production
plan with Rafarma anticipates increasing market share to 35% or
more.
"Rafarma's state-of-the-art facility is a sought-after partner
in the rapidly-growing Russian pharmaceutical industry and our
expanding portfolio of products continues to draw attention from
industry participants and investors alike," stated Rafarma CEO
Dave Anderson.
About Rafarma Pharmaceuticals, Inc.
Operating from a new 270,000 square-foot state-of-the-art
manufacturing and distribution facility in Russia, Rafarma Pharmaceuticals produces
generic antibiotics and specialty pharmaceuticals in addition to
its own line of proprietary products that are approved by the
Ministry of Health of Russian
Federation. For the last three years, the Russian Government
has been highly focused on bolstering the development of the
nation's domestic pharmaceutical industry. Rafarma's mission is to
work under the auspices of these aggressive federal initiatives to
fast-track the modernization of Russia's pharmaceutical industry.
For more information on Rafarma Pharmaceuticals, visit:
http://rafarma.com
About Pharmsynthez
Founded in 1996, Pharmsynthez became a fully operational
research and production facility in 2001 and is currently
conforming to GMP and GOST R 52249-2004 standards of pharmaceutical
manufacture and quality control. Pharmsynthez currently produces
Neovir®, Segidrin®, Fenasid® and Penkrofton® used in oncology,
gynecology, treatment of immunodeficiencies and tuberculosis.
For more information on Pharmsynthez, visit:
http://en.pharmsynthez.com/Pharmsynthez.3.html
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
RELATED LINKS
Website: www.Rafarma.com
Facebook: www.facebook.com/Rafarmainfo
Twitter: www.twitter.com/Rafarmainfo
RELATED LINKS
http://rafarma.com
SOURCE Rafarma Pharmaceuticals, Inc.