May sales of Sopharma add 3% YoY as domestic sales grow 14% YoY, exports shrink 2% (NEUTRAL)

Sopharma announced that May 2015 sales increased by 3% YoY, including 14% increase of domestic sales and 2% YoY decrease of export sales. Jan-May 2015 sales declined 12% YoY over 22% lower exports - a result of the volatility of the RUB and the actions undertaken to adjust the prices for the main export market - Russia, which stalled exports in January, as well as due to the weak Ukrainian market. Domestic sales increased 16%.