The pharmaceutical company JGL d.d. sold its Russian product portfolio of the brand D-Panthenol and women's health products to the Egis Pharmaceuticals company in Hungary. In addition to selling its brands, the business relationship includes the continuation of production of all products from the contract in JGL's Rijeka facility.
The decision to sell the product brands D-Panthenol, Vagilac, Feminal and Folacin on the Russian market represents a step forward in the implementation of JGL's strategy and a stronger orientation on key therapeutic areas - respiratory and ophthalmic areas.
"We continue to focus and strengthen the strategic segments in which we have already proven our competitiveness on the global market. Our export orientation, which is founded on a stable position on the most important export markets, in particular the Russian market, is still the cornerstone of long-term plans for growth and development. Despite the difficult market conditions that affect all producers, we continue to achieve good sales results in Russia, and our brands Aqua Maris and Dramina hold the leading positions in the nasal saline segment and the area of antiemetics, respectively," says Ivo Usmiani, President of the Board of Directors.
With the opening of production facilities within the Pharma Valley complex in July 2015, JGL secured the prerequisites and capacities in development, production and storage for the realisation of its long-term growth plans. JGL's new technological platform is based on the production of sterile solutions in drops and sprays and Bag-on-Valve forms. On this basis, JGL wants to offer its customers high quality products with added value, and strengthen its position on large export markets.
Today JGL ranks 38th on a list of two thousand companies on the Russian OTC market, while the Aqua Maris brand is a leader in the nasal saline segment. The latest partnership with Egis is a further confirmation of the expertise of JGL's employees and products, whose European quality resulted in a large number of loyal and satisfied partners and customers.
The company will partly use the revenue accrued from the sale of the Russian product portfolio to reduce short-term and long-term financial obligations, and partly to invest in the development of value-added products and their marketing promotion.
"We do not exclude the possibility that we may invest part of the revenue in targeted acquisitions. Therefore, we continuously monitor and evaluate opportunities in strategic areas, in selected markets," concludes Usmiani.
JGL is a Croatian pharmaceutical company seated in Rijeka and specialized in the development and production of value-added sterile products in ophthalmology and otorhinolaryngology. By improving the quality of life through taking care of its customers' health, JGL offers products in all technological forms in various legislative categories, and operates in 34 foreign markets. The propulsive and sustainable growth of the company is based on investment in the education of employees, development strategies, launching new products, and expansion to new markets.
The total revenue of JGL Group in 2015 amounted to EUR 106 million, with 78 percent of revenue realized on export markets. Export was primarily achieved in the company's key region - the CIS region (markets of Russia, Kazakhstan and Belarus), proving once again that JGL is a company with a strong emphasis on international business. In addition to the CIS region, JGL's subsidiaries and representative offices are present in the entire South East Europe. With regard to key strategic brands, the company has concluded cooperation agreements with partners in countries across the EU. In the past period, JGL has extensively focused on large, fast-growing markets and key regions of the world - Asia, Africa, the Middle East, and South America.
The portfolio of the company consists of 160 brands, 460 products, 1,360 variations and 6,000 articles. It is adapted to the specificities of each market and has become recognisable in chosen market and therapeutic segments, especially in the segments of nasal decongestants based on sea water and ophthalmics in the entire therapeutic spectrum. The most international brand of the company is Aqua Maris, currently present on three continents and in more than 30 countries.
JGL is also continuously working on formulations of new generations of prescription medicines, with sea water as an indispensable ingredient. Last year, the company developed the first generic drug for xylometazoline chloride and ipratropium bromide, with sea water in its composition. Within the ophthalmics portfolio, for the last several years, JGL has been working on preservative-free artificial tears (sodium hyaluronate) in a multi-dose packaging under the brand Vizol S, and prescription medicines - generic versions of leading anti-glaucoma drugs and anti-infectives. Investing in the development of own value-added products in the field of technological innovations creates key conditions for the continued growth and development of the company.
JGL Group has 926 employees, 312 of them in the CIS region.
Egis Pharmaceuticals PLC, headquartered in Budapest, Hungary, is one of the leading generic pharmaceutical companies operating principally in the CEE and CIS region. The company's activities extend from R&D through the production of APIs and FPs to sales and marketing.
In the 2015/2016 business year Egis launched 7 new product lines in its markets and its product portfolio consisted of 595 products that belong to 161 product families. While the cardiovascular, central nervous and respiratory systems account for the greatest share of the company's sales revenue, it continuously opens towards new therapeutic areas. In its 2015/2016 business year, 80% of Egis Group' net sales of EUR 536 million derived from export. The company's APIs, tablets, injections and galenic products are sold in nearly 60 countries worldwide, and Egis Group has representative offices and subsidiaries in 17 foreign countries.
In 2013 Egis launched its first biosimilar monoclonal antibody (infliximab) in the European Union, approved by the European Commission based on the expertise of the European Medicines Agency (EMA). The agreement with Celltrion-group enables Egis to bring the biosimilar versions of 8 high-turnover biological drugs onto its strategic markets. Launched in 13 countries, Remsima® has already become a market leader in a number of them. Russia is Egis' primary export market. Today Egis employs more than 600 people in Russia, covering all 8 federal districts, more than 80% of the territory of the country. Egis ranks in the Top 20 generic pharmaceuticals on the Russian market.
The company seeks opportunities to further expand its high quality portfolio, gain access to new markets and strengthen its position in major export markets, primarily in the OTC segment. For more information, go to www.egis.hu