EASTPHARMA LTD.
Subject: Opening of Russia office
London, 15 November 2007 - Hereunder is the announcement made on 15
November 2007 by EastPharma's subsidiary Deva Holding A.S. to the
Administration of the Istanbul Stock Exchange in accordance with the
Capital Markets Board's communiqué serial VIII, No:39:
Deva Holding A.S. announces the successful opening of its authorized
representative office in Moscow.
The launch of the Moscow office is a further step in EastPharma's
expansion strategy, which is focused on the high growth
pharmaceutical markets of Turkey, the former Soviet Union, Eastern
Europe and surrounding regions. The Moscow office is now responsible
for the registration of pharmaceutical products in Russia and the
liaison mission with Russian Health Authorities.
Russia is one of the fastest growing pharmaceutical markets in
EastPharma's target region. The Russian pharmaceutical market was
worth US$10.6bn in 2006, up from US$8.4bn in 2005, according to the
Association of International Pharmaceutical Manufacturers in Russia.
The office will initially register the selected products from Deva's
range of 217 products as well as those of Saba, the Turkish
pharmaceutical producer acquired by EastPharma in May 2007, with the
Russian pharmaceutical licensing authorities during the course of
2007.
Baki Taskiran, CEO of EastPharma, said: "Russia is a fast growing
pharmaceutical market. A local presence provides EastPharma with a
base from which to develop sales into Russia and understand the
dynamics shaping the market as well as regulatory developments in the
country".
The Moscow representative office's contact details are as follows:
Russian Federation,
109316, Moscow,
Ostapovsky Proezd 5,
Stroyenie 1, Office 811".
For further information, please contact:
EastPharma Limited
Idil Bora - Investor Relations
Tel.: + 90 (212) 6929326
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