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26.11.2021
For investors
26.11.2021
On November 26, 2021, the Expert RA rating agency upgraded the credit rating of Promomed DM LLC, a non-financial company, to giA-. The rating outlook is stable. The increase is due to a significant improvement in the group's financial performance since the last update. The agency's experts also expect their further growth while maintaining a high level of profitability and a comfortable debt burden in the medium term.
Promomed Group of Companies continues to increase production volumes and expand the scale of its business. The main focus of development is aimed at increasing the diversification of the product portfolio. The expansion of the range of antiviral and antibacterial drugs, including COVID-19, is a priority. In November 2021, the company registered a new injectable form of the drug Areplevir®, aimed at use in inpatient treatment. Promomed is also planning to release new products in the anti-HIV, oncology and neurology segments, and work is underway to create new drugs using its own pharmaceutical substance.
The large investment program includes the development and production of active pharmaceutical substances and finished dosage forms. The program also includes the construction of a workshop for the production of oncological drugs, new laboratories, the expansion of production of tablet forms, the creation of a site for the production of pre-filled syringes and ampoules for organ preparations, and an increase in capacity for substances and lyophilic preparations.
Promomed is committed to its chosen strategy and focus – this is the strength of the company and the key to progressive development in all areas: expanding the drug portfolio, scaling production, and implementing best corporate practices. For us, the rating procedure is not just an assessment of creditworthiness, but also an objective external analysis of the work done by the team over the year. The result inspires us to move forward and set even more ambitious goals," he commented. Maxim Smagin, CEO of Promomed Group of Companies.
Analysts of the rating agency assess the financial policy of Promomed Group as balanced, and the level of debt burden as comfortable. In late 2020 and mid-2021, the company issued two bond loans totaling 2.5 billion rubles. At the same time, due to a significant increase in financial indicators, the debt burden remained at a comfortable level.
Press release of the rating agency "Expert RA" www.raexpert.ru
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