The FINANCIAL — Leading Pharmaceutical Company in Georgia PSP has been operating on the market since the year 1995.
During this period the company gained its market share and became the population’s favourite brand.
PSP has 4 directions: GMP, PSP pharmacy chain, PSP distribution and PSP hospital.
PSP pharmacy chain
PSP occupies 150 pharmacy shops and served 1,800,000 customers by the year 2010. It offers customers a wide range of high quality medicines, broad spectrum of hygiene and assortment of cosmetics.
PSP is owner of international certificate ISO: 9001-2000. PSP was the first pharmacy network given the international certificate in the post Soviet area.
PSP distributes medicaments from more than 100 pharmaceutical companies in the Georgian market. The company was the first official distributor of European medicaments in Georgia in 1995.
PSP hospital has been part of the PSP group since 2007. The patients will be provided with 150 hospital beds by the middle of summer 2011. The hospitals will be equipped with high technical, and high quality medical equipment.
GMP has been operating in the Georgian market since 1999. The company produces 140 types of medicines and adds on average 15 new types to production each year.
GMP produces medicine from raw materials up to packaging, which gives the company the opportunity to control quality at each stage of production.
The company imports approximately 3,000 types of ingredients for medicine production with 3,000 suppliers throughout the world including the USA, Europe and Asia.
“We planned to produce 15 million units of packaging in the year 2009 year. The total turnover on the local market was approximately 10 million USD plus 5 million USD from exports,” said Giorgi Antadze, General Director of GMP.
75% of GMP production is sold in the local market and the remaining 25% goes to export. This year the company plans to increase exports to more than 30% of the total share.
“For companies like GMP the best indicator is when a company sells 40% of production in local the market and exports 60%,” said Antadze.
GMP exports its medicines to 12 countries throughout the world including all five countries of Middle Asia, Azerbaijan, and Ukraine. This year the company entered Belorussia and Moldova, the Libyan Arab Republic, Sierra Leone and Vietnam.
“We are entering the European market and have started registration of our medicine in France. This process is quite difficult as European Union requirements for medicine are quite rigid. Despite the medicine checking, French experts will verify the process of production.
This will be the first Georgian medicine on the European market and this will probably help GMP to gain ground in other European countries.
Moreover, in several years we will probably enter the US market,” said Antadze.
According to Antadze, the whole share of locally produced medicines on the Georgian market is approximately 12%, and the rest is made up of imported products.
“The tendency is changing and we might supply 15% of the total Georgian market in 2010.
If you looked for the medicine market several years ago you would see that imported medicine had a market share of 95% and even 98%, so the tendency is positive and local production is growing,” said Antadze.
Antadze says that development of local medicine production will give the opportunity to provide medicaments with low prices to the Georgian population.
“Local production of medicines that are identical to foreign medicines gives us the opportunity to provide medicines with low prices rather than exported ones.
If the market share of locally produced medicines increases the population will have the chance to obtain medicine at low prices,” said Antadze.