BASEL, January 29. /ITAR-TASS/. Russia ranks second by the pharmaceutical market of over-the-counter medications, goes a report of the multinational pharmaceutical corporation Novartis.
According to the statements, the country became the world's second largest market and the strongest driver in this segment with its “double-digit growth” of over-the-counter drug sales.
As for the brands popular in Russia, Novartis cites anti-inflammatory drug Voltaren, nasal spray Otrivin and cold symptom-fighting powder Theraflu. Growth in sales of the two latter drugs increased due to cold winter, Novartis explains.
2013 financial statements came out on Wednesday showing Novartis’ revenue 2.2% up to 57.92 billion. Net profit declined 1% to 9.3 billion.
The company does not disclose over-the-counter sales summing the figure up with revenue from veterinary drugs. Sales in the segment grew 8.8% to 4.06 billion in 2013.
Novartis International AG set up in 1996 is Europe’s second pharmaceutical producer by market share with 120,000 employees operating in 140 countries. In Russia, Novartis has three kinds of businesses: over-the-counter medications, contact lenses and veterinary drugs.