Press release BoxID: 313023 (Ypsomed AG)
  • Ypsomed AG
  • Brunnmattstrasse 6
  • 3401 Burgdorf
  • Contact person
  • Daniel Kusio
  • +41 (34) 42441-43

Ypsomed's reusable Ypsopen® will be launched in Russia and pen needles in the Ukraine

(PresseBox) (Burgdorf, ) Pharmstandard, a leading pharmaceutical company and largest insulin producer in Russia, will be launching Ypsomed's reusable Ypsopen® pen system for the administration of insulin in Russia. In addition, Ypsomed has signed a distribution agreement with Gamma Medica for the launch of Ypsomed's patented clickon Penfine® pen needles, suitable for all existing pen systems, under the mylife(TM) Diabetescare brand in the Ukraine.

Pharmstandard to sell the Ypsopen® in Russia

Starting in Q3 2010, the Ypsopen® reusable insulin pen system will be sold in Russia under the name "Biomatik® Pen" by the leading Russian pharmaceutical company Pharmstandard. The Ypsopen® will be sold together with the insulin Biosulin®. Ypsomed's CEO Richard Fritschi is very excited about the new contract: "Russia is a large and strongly growing diabetes and insulin market. Ypsomed is very proud to partner with Pharmstandard, the leading local insulin provider in Russia." According to Pharmexpert Marketing Research Centre, Pharmstandard holds the top position in the domestic pharmaceutical market retail segment and the second position among Russian pharmaceutical companies overall. Under the lead of CEO Igor Krylov, Pharmstandard recorded total revenues amounting to RUR 14'539 million for the first nine months of the 2009 business year, which corresponds to an increase of 40% over the previous year. Pharmstandard's portfolio includes over 200 products used in the treatment of diabetes, growth hormone deficiency, cardiovascular diseases, gastroenterological and neurological disorders, infectious diseases, cancer, etc. Pharmstandard became a public company in 2007 by offering to the public 25.0% of its share capital in the form of GDR during the Initial Public Offering (IPO) on the London Stock Exchange (LSE) and 18.3% of its share capital in the form of ordinary shares on two local stock exchanges (RTS, MICEX).

With the introduction of the Ypsopen® under the name Biomatik® Pen patients are being offered a triedandtested, userfriendly pen system for the precise and safe administration of insulin. The Ypsopen®, a high quality metal insulin pen, provides diabetics with additional functionality to simplify handling. For example, the dose can be adjusted and a shorter thread enables the cartridge to be changed more quickly. The electronic display offers simple operation and ensures that the dose is easy to read. Today, the Ypsopen® is distributed in Germany, China and Poland. In the mediumterm, Ypsomed plans to introduce the Ypsopen® and other innovative insulin pens in additional markets.

Ypsomed signed a distribution agreement for pen needles in the Ukraine

Ypsomed will launch its patent protected clickon pen needles under the mylife(TM) diabetescare brand in the Ukraine and has for this purpose signed a distribution agreement with Gamma Medica, a company of the The Kuptsov's House Corporation based in Dnepropetrovsk. Gamma Medica is already in the diabetes business and - since the end of 2005 - very successfully sells the blood glucose monitoring systems from Bionime, an Ypsomed partner and manufacturer of the blood glucose monitoring system Pura(TM) . Simon Michel, Senior Vice President Marketing & Sales is very pleased: "With Gamma Medica Ypsomed has won a strong partner for the successful distribution of its mylife(TM) Penfine® pen needles in the growing market for injection systems in the Ukraine." Gamma Medica is part of the 300 employee strong The Kuptsov's House Corporation, which is present country wide with its own subsidiaries in all of the eleven largest cities. The Ukraine is the second largest country in Europe and has an increasing number of diabetics. The diabetes market in the Ukraine is growing at a rate of 5 to 7% per annum.