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. Last Updated: 07/27/2016

Pharmstandard Profit Rises

Drug maker Pharmstandard said Tuesday that its first-half net profit grew 47 percent to 2.6 billion rubles ($82 million) after sales were boosted by a government tender.

Pharmstandard supplied the state with 2.5 billion rubles worth of cancer drug Velcade, which it distributes on behalf of a unit of Johnson & Johnson. It said operating profit rose 49 percent to 3.5 billion rubles, but operating margin slipped to 35 percent, from 38 percent a year ago.

(Reuters)