Who Owned Georgia English.pdf
Who Owned Georgia English.pdf Who Owned Georgia English.pdf
that the decrease could be their short-term strategy to push newcompetitors out of the market. 244When it comes to pharmaceutical manufacturing, of the 70producers in Georgia, GMP (PSP) and Aversi Rational representnearly 90% of the share. 245 Local manufacturing has been rapidlygrowing at a rate of 46% per year from 2004 to 2010 246 . Thevalue of local production was $90.2 million in 2010, comparedto $22.1 million in 2006. 247 The local sales of medicines producedin Georgia are growing at the rapid rate of 38% per year. 60% ofGeorgian produced medicines are exported.The top 3 recipientsare Azerbaijan, Armenia and Uzbekistan 248 .Aversi and GPC advertise that their manufacturing is GoodManufacturing Practice (GMP) certified and complies with allthe internationally recognized quality standard for medicines.However, no certified agency has ever awarded Aversi Rationalor GPC a GMP certificate. 249 The GMP certificates that AversiRational and GPC hold were given to them by private auditing244 Report on Pharmaceutical Market in Georgia. p. 25 TransparencyInternational Georgia http://transparency.ge/sites/default/files/post_attachments/The%20Pharmaceutical%20Market%20in%20Georgia_June%202012l_0.pdf Accessed 05/12/2012245 Based on the production value in USD, the shares are confirmed by TheAssociation of Young Financiers and Businessmen, (2011), The GeorgianPharmaceutical Market Conclusions and Recommendations, and KomsaInternational (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with the government of Georgia,Dec. 2011. http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/2012246 Komsa International (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with the government of Georgia,Dec. 2011. http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/2012247 Information provided by Geostat.248 Darkside of the Georgian pharmacy. Studio Monitor Investigation (2009)http://ick.ge/ka/jinvestigation/322-2010-02-17-09-21-51.html Accessed05/12/2012249 Report on Pharmaceutical Market in Georgia. p. 24 TransparencyInternational Georgia http://transparency.ge/sites/default/files/post_attachments/The%20Pharmaceutical%20Market%20in%20Georgia_June%202012l_0.pdf Accessed 12/12/201260
companies, not by recognized GMP certified agencies. 250 GPCis currently in the process of obtaining a GMP certificationfrom France, which will allow them to export their products tocountries that recognize the EU-GMP. Georgian companies onlyengage in the final steps of the manufacturing process, whichare formulating (making tablets) and packaging. The activesubstances are made elsewhere. 251Quality control and consumer rights are issues that havenot yet been adequately addressed in Georgian legislature. Thelaw recognizes the manufacturer of a drug as the company thatpackages it. The producer of the active substance, or the companythat did the formulation, doesn’t have to be identified on thelabel or leaflet and there is no database where such informationcan be made available. We don’t know who formulated the drugor where it was processed. Instead, Aversi and PSP lead us tobelieve the whole production process of the drug was done by aGMP certified Georgian producer by the way they present it.. Infact, the active substance might have been produced somewherein India or Egypt by some random company. We don’t know.The only production was the packaging of the finished drug witha convincing Georgian label. 252For example, some medicines sold under the Aversi Rationalbrand have no reference to the original manufacturer, like250 Komsa International (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with the government of Georgia,Dec. 2011, http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/2012and The Financial :http://www.finchannel.com/Main_News/Geo/102226_Doubts_over_Indian_Medicines_Sold_in_Georgia/ Accessed 05/12/2012251 Komsa International (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with the government of Georgia, p.23Dec. 2011, http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/2012252 The Georgian Pharmaceutical Market. Transparency International GeorgiaReport. p.27 http://transparency.ge/sites/default/files/post_attachments/The%20Pharmaceutical%20Market%20in%20Georgia_June%202012l_0.pdfAccessed 05/12/201261
- Page 12 and 13: If the authorities had wanted, they
- Page 14 and 15: Tbilisi Mayor Gigi Ugulava, who was
- Page 16 and 17: Kakhi Beqauri and Eldar Mdinaradze.
- Page 18 and 19: oadcasting 39 but sold the frequenc
- Page 20 and 21: He went on to say that later that d
- Page 22 and 23: with Russia, which sent the nation
- Page 24 and 25: Irakli Okruashvili case in Septembe
- Page 26 and 27: them in the street. They took trans
- Page 28 and 29: Maestro contends the dishes were pa
- Page 30 and 31: In the meantime, Chikovani has rema
- Page 32 and 33: General Media arrived in early 2011
- Page 34 and 35: merger of the Caucasus Network, Geo
- Page 36 and 37: In cases when the owner of a busine
- Page 38 and 39: the shares and LLC Investico Allian
- Page 40 and 41: 38WHO OWNED OUTDOOR ADVERTISING?Whe
- Page 42 and 43: The latest Civil registry entry has
- Page 44 and 45: On September 12, 2011, JSC Adprojec
- Page 46 and 47: ut we are only partly correct. The
- Page 48 and 49: estaurants to confiscate documents
- Page 50 and 51: Delta Holding, the football (soccer
- Page 52 and 53: A PHARMACEUTICAL OLIGOPOLY“Why ar
- Page 54 and 55: to construct manufacturing sites an
- Page 56 and 57: A loan from the European Bank for R
- Page 58 and 59: People’s Pharmacy, a small pharma
- Page 60 and 61: the large import/distributors and r
- Page 64 and 65: Kvadimax, Enozid H, Musitroli, Amta
- Page 66 and 67: 64IT’S CALLED DEVELOPMENTIn 2002
- Page 68 and 69: uling party leader in the region wa
- Page 70 and 71: Federation. The Georgian prosecutor
- Page 72 and 73: went to Argilstone Investment and 4
- Page 74 and 75: (10%). 290 Like Lemise, Interplast
- Page 76 and 77: then buying it back from that group
- Page 78 and 79: elonged to Kapital Vostok, a Swiss
- Page 80 and 81: a fantasy settlement just south of
- Page 82 and 83: made quite a profit, as Sairme is i
- Page 84 and 85: and the Tbilisi Development Fund, t
- Page 86 and 87: land from the Fund along Aghmashene
- Page 88 and 89: On December 24th, the economy minis
- Page 90 and 91: had never been properly notified. 3
- Page 92 and 93: In 2009, Stanton was renamed GeoPro
- Page 94 and 95: Tkibuli is a derelict post-Soviet i
- Page 96 and 97: POSTSCRIPTWhen Georgians went to th
- Page 98 and 99: While Rustavi 2 was passing through
- Page 100 and 101: On October 5, Maestro TV and Global
- Page 102: and further reasons why foreign inv
that the decrease could be their short-term strategy to push newcompetitors out of the market. 244When it comes to pharmaceutical manufacturing, of the 70producers in <strong>Georgia</strong>, GMP (PSP) and Aversi Rational representnearly 90% of the share. 245 Local manufacturing has been rapidlygrowing at a rate of 46% per year from 2004 to 2010 246 . Thevalue of local production was $90.2 million in 2010, comparedto $22.1 million in 2006. 247 The local sales of medicines producedin <strong>Georgia</strong> are growing at the rapid rate of 38% per year. 60% of<strong>Georgia</strong>n produced medicines are exported.The top 3 recipientsare Azerbaijan, Armenia and Uzbekistan 248 .Aversi and GPC advertise that their manufacturing is GoodManufacturing Practice (GMP) certified and complies with allthe internationally recognized quality standard for medicines.However, no certified agency has ever awarded Aversi Rationalor GPC a GMP certificate. 249 The GMP certificates that AversiRational and GPC hold were given to them by private auditing244 Report on Pharmaceutical Market in <strong>Georgia</strong>. p. 25 TransparencyInternational <strong>Georgia</strong> http://transparency.ge/sites/default/files/post_attachments/The%20Pharmaceutical%20Market%20in%20<strong>Georgia</strong>_June%202012l_0.<strong>pdf</strong> Accessed 05/12/2012245 Based on the production value in USD, the shares are confirmed by TheAssociation of Young Financiers and Businessmen, (2011), The <strong>Georgia</strong>nPharmaceutical Market Conclusions and Recommendations, and KomsaInternational (2011) Investment Guide; Opportunities in <strong>Georgia</strong>’sPharmaceutical Sector, in cooperation with the government of <strong>Georgia</strong>,Dec. 2011. http://www.investingeorgia.org/upload/file/Opportunities_in_<strong>Georgia</strong>s_Pharmaceutical_Sector.<strong>pdf</strong> Accessed 05/12/2012246 Komsa International (2011) Investment Guide; Opportunities in <strong>Georgia</strong>’sPharmaceutical Sector, in cooperation with the government of <strong>Georgia</strong>,Dec. 2011. http://www.investingeorgia.org/upload/file/Opportunities_in_<strong>Georgia</strong>s_Pharmaceutical_Sector.<strong>pdf</strong> Accessed 05/12/2012247 Information provided by Geostat.248 Darkside of the <strong>Georgia</strong>n pharmacy. Studio Monitor Investigation (2009)http://ick.ge/ka/jinvestigation/322-2010-02-17-09-21-51.html Accessed05/12/2012249 Report on Pharmaceutical Market in <strong>Georgia</strong>. p. 24 TransparencyInternational <strong>Georgia</strong> http://transparency.ge/sites/default/files/post_attachments/The%20Pharmaceutical%20Market%20in%20<strong>Georgia</strong>_June%202012l_0.<strong>pdf</strong> Accessed 12/12/201260
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