Promomed

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Promomed
Company typeLimited liability company
Industry
Founded2005; 19 years ago (2005) in Moscow
FoundersPetr Bely
Headquarters
Moscow
,
Russia
Area served
Russia & Worldwide [1]
Key people
Petr Bely (CEO)
ProductsPharmaceutical drugs
Websitepromomed.ru/en/ >

Promomed Group is a Russian pharmaceutical company specialising in elaboration, production, check studies and distribution of medicinal drugs. Its major production site, the Biokhimik Plant, is in Saransk.

History[edit]

The Promomed Group was established in 2005. It was planned, from the outset, that the company would be carrying out clinical trials as well as exercising promotional marketing of pharmaceuticals made to order.[2] as its first pharmaceutical drug.[2]

In 2007, the company launched Reduxin, a drug to treat obesity.[3]

In 2012, the Promomed Group, in cooperation with National Medical Research Center for Endocrinology (Russia) and Russian Association of Endocrinologists, initiated a world's largest observational study that covered 100 000 patients and 3 000 doctors in 142 locations around Russia.[4][5]

In 2015, Promomed acquired the Biokhimik plant; that same year an updated work unit got underway at the plant, to produce lozenges and capsules.[6][7][8]

Still in 2017 and for the first time in Russia, full-cycle production, from a strain variant to the finished product, of an antibiotic substance, Vancomycin, was developed and put in working order.[9]

In 2018, the Company opened its Representative office in Vietnam.[10]

In 2020, Promomed Group obtained approval for production and marketing of areplivir, a drug developed on the basis of favipiravir molecule for the treatment of COVID-19.[11][12] That same year, the Company placed its bonds on the Moscow Exchange, with a total value of 1 billion rubles (next placements in 2021 - 5 billion rubles and in 2022 - 2,5 billion rubles).[13][14][15][16]

In February 2022, Ministry of Health of the Russian Federation granted marketing authorisation, to Promomed, for Esperavir, a drug based on molnupiravir and developed for the treatment of COVID-19.[17][18]

In April 2022, Ministry of Health of the Russian Federation approved yet another medication produced by Promomed, an anti-COVID drug, Skyvira.[19]

In 2023, Promomed Group bought a controlling stake in pharmaceutical company Berakhim.[20]

In June 2023, at the time of the 26th St. Petersburg International Economic Forum, an agreement between the Government of Moscow and the Promomed Group was signed, respectively, by Vladislav Ovchinsky, Head of the Investments and Industries Policy Department of the Government of Moscow, and Petr Bely, Chair of the Board of Directors of the Promomed Group, on the establishment of a research centre at the Pechatniki site and of a facility for manufacturing of biotechnological products at the Alabushevo site, of the Technopolis Moscow Special Economic Zone (SEZ).[21][22]

Activities[edit]

Promomed Group is engaged in production of endocrinological, rheumatological, neurological, antiviral, antibacterial, antitumor and other types of drugs.[23][4]

The company's portfolio contained over 180 various names of drugs in 2021 and 80 percent of them were on the official List of vital medicines (the list of medicines approved by the Government of the Russian Federation for the purpose of state regulation of prices for medicines).[2][24] By 2023, the portfolio expanded up to 250 names of drugs while the share of vital medicines in it remained at 80 percen.[20]

Manufacture[edit]

The Group produces medicines at a large Biochemist enterprise in Saransk. A small part of the drugs (including areplivir) were also produced in 2021 at the facilities of Ozon LLC.[25]

In summer of 2023, the Promomed Group signed an agreement with the Government of Moscow to establish production of cutting-edge pharmaceuticals, including drugs under import substitution industrialisation policy, within the framework of the Technopolis Moscow Special Economic Zone (SEZ). Its experimental production unit is expected to make about 250 thousand medicine bottles a year, at its initial stage.[21]

ESG[edit]

The Group has adopted its own ESG strategy and it is being implemented. In October 2022, Promomed Group published its first ever ESG report (environmental, social, and corporate governance).[26][27]

General owners and Chief executives[edit]

Petr Bely — founder and principal shareholder of Promomed Group, chair of the board of directors.[28]

Sponsorship[edit]

In 1994, with the support of today's subsidiary Promomed, JSC Biokhimik, the Biokhimik-Mordovia football club was created, which existed until 2004 and in 2005 was transformed into the FC Mordovia Saransk.[29]

References[edit]

  1. ^ Ооо Промомед Дм
  2. ^ a b c "Pyotr Belyi:"Producing substances is just as important as mastering space"" Петр Белый: «Производить субстанции так же важно, как осваивать космос». Vedomosti (in Russian). Interviewed by Deryabina, Anna. 19 August 2021.
  3. ^ "Promomed // Pharmaceutical company" Промомед // Фармацевтическая компания. PHARMPROM (Directory) (in Russian). 23 September 2020.
  4. ^ a b "Promomed Rus LLC" ООО «ПРОМОМЕД РУС». Medvestnik (Directory) (in Russian). Bionica Digital LLC.
  5. ^ "The PRIMAVERA Study: Reduxine Safety Monitoring in Patients With Alimentary Obesity". U.S. Department of Health and Human Services, National Institutes of Health, National Library of Medicine, and National Center for Biotechnology Information. ClinicalTrials.gov. 4 August 2014. Archived from the original on 2021-10-25.
  6. ^ "BRIEF-Biokhimik announces changes in shareholding structure". Reuters. 12 October 2016.
  7. ^ "Promomed". TAdviser (Directory). 2023.
  8. ^ Попов, Игорь; Ломская, Татьяна; Ганжур, Елена (6 September 2021). "The 20 best pharmaceutical companies in Russia — 2021. Forbes rating // 6. JSC "Biochemist"" 20 лучших фармкомпаний России — 2021. Рейтинг Forbes // 6. АО «Биохимик». Forbes (in Russian).
  9. ^ Зотикова, Валентина (21 June 2019). "Saransk Biochemist Plant to launch production of 150 new medicines" Саранский завод "Биохимик" наладит выпуск 150 новых лекарств. Rossiyskaya Gazeta (in Russian). Saransk.
  10. ^ ""Биохимик" поставляет продукцию в страны Персидского залива и Латинской Америки" [Biochemist supplies products to the countries of the Persian Gulf and Latin America]. Столица С (in Russian). 5 February 2019.
  11. ^ "Russia Clears Two Coronavirus Drugs for Pharmacy Sale". The Moscow Times. 23 September 2020.
  12. ^ "Russia-developed COVID-19 drug to start production in December". Nepal News. ANI. 13 November 2021.
  13. ^ Limited liability company "PROMOMED DM", exchange-traded bond (RU000A102LB5)
  14. ^ Limited liability company "PROMOMED DM", exchange-traded bond (RU000A1053T9)
  15. ^ "Promomed Pharmaceutical Company placed the second issue of bonds for 1.5 billion rubles" Фармкомпания "Промомед" разместила второй выпуск бондов на 1,5 млрд рублей. TASS (in Russian). 30 July 2021.
  16. ^ "Promomed DM increased the volume of the bond program from 1.5 to 5 billion rubles" "Промомед ДМ" увеличила объем программы облигаций с 1,5 до 5 млрд рублей. Finmarket (in Russian). 21 July 2022.
  17. ^ "The Ministry of Health has registered a drug against coronavirus based on molnupiravir" Минздрав зарегистрировал препарат от коронавируса на основе молнупиравира. Kommersant (in Russian). 3 March 2022.
  18. ^ "The production of innovative medicines will be created in the Technopolis Moscow SEZ" The Ministry of Health has registered the anti-coronavirus drug “Esperavir”. RBK (in Russian). 3 March 2022.
  19. ^ "The Ministry of Health has registered the drug Skyvira for the treatment of COVID-19" Минздрав зарегистрировал препарат для лечения COVID-19 «Скайвира». Kommersant (in Russian). 21 April 2022.
  20. ^ a b "Promomed bought a controlling stake in Berakhim from the wife of its founder" «Промомед» выкупил у супруги своего основателя контрольную долю в «Берахиме». Vedomosti (in Russian). 12 January 2023.
  21. ^ a b "The production of innovative medicines will be created in the Technopolis Moscow SEZ" В ОЭЗ "Технополис Москва" создадут производство инновационных лекарств. TASS (in Russian). 14 June 2023.
  22. ^ "Innovative medicines are planned to be developed in the Technopolis Moscow SEZ" Инновационные лекарства планируется разрабатывать в ОЭЗ "Технополис Москвай. RIA Novosti (in Russian). 21 July 2022.
  23. ^ "Promomed Group has registered a broad-spectrum antibiotic". GxP News. 16 July 2022. Retrieved 25 November 2023.
  24. ^ "State Register of Medicines : Biochemist" Государственный реестр лекарственных средств. State Register of Medicines (Data base) (in Russian). 2023. Retrieved 10 October 2023.
  25. ^ "The second line of production of medicines "Ozon Pharm" was opened in Togliatti" Вторую линию производства лекарств "Озон Фарм" открыли в Тольятти. TASS (in Russian). 25 October 2021.
  26. ^ "Promomed Group has published its first ESG reportfounder" ГК «Промомед» опубликовала свой первый ESG-отчет. Pharmaceutical Bulletin (in Russian). 13 October 2022.
  27. ^ "PROMOMED GROUP 2021 ESG REPORT" (pdf). Promomed (Report). 2022. p. 100.
  28. ^ "Business programme". Eurasian Economic Forum. 25 May 2023.
  29. ^ "Igor Shinkarenko" Игорь Шинкаренко. PFC Krylia Sovetov Samara (in Russian). 15 January 2007.
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