Bioton has announced that on 12 September three Gensulin (Bioton’s insulin brand) products have been registered in Russia.
Our view: The news, although it was expected, should have clearly positive trading impact. Bioton is now able to export to Russia and according to earlier statements of the CEO, the company should record USD 20m of revenues from this market by the end of 2006. The CEO expects PLN 260-300m of revenues and PLN 100m of pre-tax in 2006 versus only PLN 96m and PLN 20.3m in 1H06 respectively.