Antibiotice Iasi, one of the leading Romanian pharmaceutical manufacturers specializing in generic drugs, has found business opportunities in new markets such as Saudi Arabia, Hong Kong, Cambodia and Macao, and will develop projects in Slovenia, Croatia and Montenegro, according to the half-yearly report published on the website of the Bucharest Stock Exchange (BVB).

The company reported a net profit of RON 22.3 million (EUR 4.7 mln) in the first six months of 2019, 11% higher compared to the same period of 2018, with sales revenues of RON 172.3 mln (EUR 36.3 mln), 9% higher than last year, News.ro reported.

The Government holds a 53% stake in the company. Antibiotice has a market capitalization of RON 349 mln (EUR 73.5 mln).

“The development strategy on the European market also targets the countries of Central and Eastern Europe, where, starting from the coordination center in Serbia, we develop projects in countries such as Slovenia, Croatia, Montenegro. Exports in the Russia & CIS area will be concentrated in perspective around the Ukrainian office, from where we will coordinate the projects we have in this area,” the report shows.

Currently, about 29% of the company’s production goes to export.

(Photo: Pixabay)

editor@romania-insider.com