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-Unofficial Translation- Prominent topics from the interview of Our Company's Chairman of the Board of Directors Mr. Abidin GÜLMÜŞ on the Bloomberg HT Channel, which broadcasted today (03.08.2023) are submitted to our valuable investors' information. Goals Our Company has been continuing its activities without slow down in line with the targets determined on its Initial Public Offering since the day it was offered to the public. As we have done so far we continue to progress in line with our goals. Agreement for Azerbaijan's First Pharmaceutical Production Facility The shareholders agreement of the company which will be established in order to realize the first pharmaceutical production facility of Azerbaijan, which GEN has 66% of its shares, Azerbaijan Investment Company has 29% of its shares and a local company in Azerbaijan 5% of its shares, was signed on 31.07.2023. In the next period, the establishment meeting of the company is aimed to be held in a short time and it's aimed to lay the foundation of the production facility by the end of September. Export Activities We have established our office in Germany regarding the EU GMP (European Union Good Manufacturing Practices) approval which is our company received as a result of the audit of the German health authority at the end of 2021. Through this office, we aim to export to the determined European Union countries by the end of the year. In addition, we determined as the most important target for our production facility which is established on 2017, exporting 70% of the products which produced in this production facility. Our works to achieve this target is are continuing. Investments We have been invested in many start-up's in the field of innovative health technologies since our initial public offering. The most important of these investments is H2O Therapeutics which operates in the field of Prescribed Digital Therapeutics. The software developed by this company which monitors whether the course of treatment in Parkinson disease is correct or not. This software received the approval of the American Food and Drug Administration (US FDA) by showing great success. In the coming period, efforts will be made to make this software ,which developed by H2O Therapeutics and made available in the United States of America, available in Turkey The work of our other innovative investments is also very valuable, and we expect one or more "unicorns" to emerge from these investments. Research and Development Activities We have started the phase 2 studies of the psoriasis drug, whose research and development studies and intellectual property rights belong entirely to our company. If the end of the year positive results are obtained in this study, we expect to submission of this drug to the use of patients till the end of 2024. Also, studies of innovative drug which expected to be effective on Alzheimer and other neurodegenerative ilnesses maintained in cooperation with Sulfateq B.V. in Netherlands are maintaining at full speed. Regarding this product we expect that phase 1 works will start soon. As soon as we get approval from the Ministry of Health, our work will begin. However, pharmaceutical business requires patience and it is subject to the strict regulations. Therefore, we expect that effect of this works to the company's financials on medium term. However, our company's cash flow is very strong as a result of our company's different business model and our company financing most of these projects with resources created by itself. Let our investors be happy, we will continue to work without increasing the company's debt position by managing the company's cash flow well. Sustainability Investments We aim that the compensate 90% of our electricity consumption through renewable sources by investing on roof and carports of our production facility in the first phase and additional investment on second phase in order to do our part as a company to fight the energy crisis. For this aim our works are maintaining. As company, we adopted transparency as principle with our company stance and towards this principle, we continue to share all developments and issues regarding to our company's activities with our valuable investors and public as up until now. The record of the interview will be available on our company's corporate Youtube account in the next few days. |
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