Information agency Credinform has observed trends in the activity of the largest Russian manufacturers of pharmaceuticals and medical products.
Enterprises with the largest volume of annual revenue (TOP-10 and TOP-1000) were selected for the analysis, according to the data from the Statistical Register for the latest available periods (for 2015-2017). The analysis was made on the basis of the data of the Information and Analytical system Globas.
The largest company in terms of net assets amount is JSC PHARMSTANDART-LEKSREDSTVA. In 2018 net assets of the company amounted to more than 3,1 billion RUB.
JSC F-SYNTHESIS had the smallest amount of net assets in the TOP-1000 group. Insufficiency of property of the company in 2018 was expressed in negative value -2,2 billion RUB.
For a ten-year period average amount of net assets of TOP-1000 companies has increasing tendency (Picture 1).
Share of companies with insufficiency of property in the TOP-1000 demonstrate increasing tendency for the last five years (Picture 2).
The revenue volume of 10 leaders of the industry made 35% of the total revenue of TOP-1000 companies in 2017 (Picture 3). It demonstrates relatively high level of competition in the industry.
In general, over a ten-year period an increasing tendency in revenue volume is observed (Picture 4).
Profit and losses
The largest company in terms of net profit amount is JSC VALENTA FARM . Net profit of the company amounted to more than 4,7 billion RUB for 2018.
For the last ten years average industrial indicators of net profit have an increasing tendency (Picture 5).
Over a five-year period, the average values of net profit indicators of TOP-1000 companies tend to increase. Besides, the average value of net loss increases (Picture 6).
Key financial ratios
Over the ten-year period the average indicators of the current liquidity ratio in general were within the range of recommended values – from 1,0 up to 2,0 with increasing tendency (Picture 7).
Average values of the indicators of the return on investment ratio have decreasing tendency for ten years (Picture 8).
This business activity ratio showed a tendency to decrease for a ten-year period (Picture 9).
76% of the TOP-1000 companies are registered in the Register of small and medium enterprises of the Federal Tax Service of the RF. Besides, share of revenue in the total volume in 2017 is 11,6%, that is twice as low as the average indicator countrywide (Picture 10).
Main regions of activity
TOP-1000 enterprises are unequally distributed along the territory of Russia and registered in 65 regions. Almost 52% of revenue volume is concentrated in Moscow and Moscow region (Picture 11).
Financial position score
An assessment of the financial position of TOP-1000 companies shows that the largest number is in an average financial position. (Picture 12).
Industrial production index
According to the data of the Federal State Statistics Service, increasing trend in indicators of the industrial production index is observed in the sphere of manufacture of pharmaceuticals and medical products in 2018 – 2019 (Picture 14). Besides, the average indicator from month to month amounted to 102,3%.
According to the same data, share of the companies, engaged manufacture of pharmaceuticals and medical products in the volume of revenue from sale of goods, products, works and services countrywide in general amounted to 0,001% for 2018.
Comprehensive assessment of the activity of largest Russian manufacturers of pharmaceuticals and medical products, taking into account the main indexes, financial indicators and ratios, demonstrates the presence of favorable trends (Table 1).
|Trends and assessment factors||Share of factor, %|
|Rate of increase (decrease) of average amount of net assets||10|
|Increase / decrease of share of companies with negative values of net assets||-10|
|Level of competition||5|
|Increase (decrease) rate of average revenue amount||10|
|Increase (decrease) rate of average net profit (loss) amount||10|
|Increase / decrease of average net profit amount of TOP-1000 companies||10|
|Increase / decrease of average net loss amount of TOP-1000 companies||-10|
|Increase / decrease of average industrial values of the current liquidity ratio||10|
|Increase / decrease of average industrial values of the return on investments ratio||-10|
|Increase / decrease of average industrial values of the assets turnover ratio, times||-5|
|Share of small and medium enterprises in the industry in terms of revenue volume more than 22%||-10|
|Financial position (major share)||5|
|Solvency index Globas (major share)||10|
|Industrial production index||-5|
|Average value of factors||0,7|
positive trend (factor) , negative trend (factor).
Information agency Credinform presents ranking of the largest Russian pharma companies. Enterprises with the largest volume of annual revenue (TOP-10), engaged in manufacture of pharmaceuticals and medical products, were selected for the analysis, according to the data from the Statistical Register for the latest available periods (for 2016-2018). Then they were ranked by decrease in product profitability ratio (Table 1). The analysis was made on the basis of the data of the Information and Analytical system Globas.
In general, profitability reflects the economic efficiency of production. Product profitability analysis allows us to make a conclusion whether output of one or another product is reasonable. There are no prescribed values for indicators of this group, because they vary strongly depending on the industry.
The experts of the Information agency Credinform, taking into account the actual situation both in the economy as a whole and in sectors, has developed and implemented in the Information and Analytical system Globas the calculation of practical values of financial ratios that can be recognized as normal for a particular industry. For manufacturers of pharmaceuticals and medical products practical value of the product profitability ratio amounted from 25,32% in 2017.
For getting of the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention to all combination of indicators and financial ratios.
|Name, INN, region||Revenue, billion RUB||Net profit (loss), billion RUB||Product profitability ratio, %||Solvency index Globas|
INN 5024048000 Saint Petersburg
|JSC VALENTA FARM
INN 5050008117 Moscow region
INN 5260900010 Novgorod region
INN 4631002737 Kursk region
INN 6345002063 Samara region
|JSC CHEMICO-PHARMACEUTICAL WORKS AKRIKHIN
INN 5031013320 Moscow region
INN 7726311464 Moscow
|JSC SOTEX PHARMFIRM
INN 7715240941 Moscow region
|JSC PHARMSTANDARD-UFIMSKIY VITAMIN PLANT
INN 0274036993 The Republic of Bashkortostan
|JSC RICHTER GEDEON-RUS
INN 5011016121 Moscow region
|Total for TOP-10 companies||191,47||204,28||24,59||29,91|
|Average value for TOP-10 companies||19,15||20,43||2,46||2,99||37,65||29,94|
|Average industrial value||0,34||0,03||25,32|
growth decrease of indicator to the previous period, decrease of indicator to the previous period.
Average value of the product profitability ratio of the TOP-10 group is higher than the average industrial and practical values of 2017. Four companies have improved their results in 2018.
Over a ten-year period average industrial values of the product profitability ratio had increasing tendency. (Picture 2).