The results of the third quarter of 2015 confirmed the optimistic forecasts for the financial results of Tchaikapharma High Quality Medicines Inc. Obviously the long-term strategy for innovative, high-tech development of the company, including expansion into new markets and focus on the needs of patients warrants further optimism
According to the data of IMS, a global analyzer specialized in medical statistics, for the third quarter of 2015 Tchaikapharma ranked in the top 15 manufacturers of medicinal products based on sales in Bulgaria. The company continued to develop its position in the field of modern therapy of cardiovascular diseases, and for the reporting period according to the same data was first in sales growth in Bulgaria of medicines that affect the renin-angiotensin system
In the third quarter of this year, the traditionally strong production portfolio of the company included over 150 products and continued to grow by including new Marketing Authorisations for Tchaikapharma medicines for Bulgaria and other EU countries also.
The Marketing Authorisations received were for medicinal products meeting the leading pharmacotherapeutic recommendations for treatment of metabolic syndrome and specialized diagnoses in cardiovascular disease. For the reported period, Marketing Authorisations were obtained for the following products:
On the 1st of September 2015 was launched the third for the company decentralized procedure for the product Tamayra of 5 mg/5 mg and Tamayra 10 mg/5 mg, which belongs to a group of modern combined drug therapies for cardiovascular disease based on ACE inhibitors and calcium channel blockers. This was the first international procedure in which the reference country was Bulgaria. The countries affected were the Czech Republic, Romania, Portugal, Slovakia, Greece and Austria.
During the past quarter the company received two more Marketing Authorisations in connection with the completion of an international procedure for Candesartan/Hydrochlorothiazide and Rosuvastatin. 11 other medicinal products focused on the treatment of infectious and oncological diseases are in the process of receiving Marketing Authorisations in Bulgaria.
In addition to the new registrations in the EU, the company continued its expansion in other Balkan countries, and in September it also registered two products in Ukraine.
Since its release on the Bulgarian Stock Exchange on the 21st of May 2015 until now, the company has defended and confirmed absolutely all its predictions. The future strategic and medium-term objectives include, inter alia, achievement of steady profit growth of 10 % on annual basis and continued market expansion of Tchaikapharma to new markets in the European Union.
Against the background of these excellent financial results, the investor interest, as expected, was growing and the price of the shares of Tchaikapharma reached BGN 5.19 per share according to the data as of the 28th of October 2015.
International Press Center of Tchaikapharma High Quality Medicines Inc.