Romanian drug producer Biofarm opens new factory after EUR 35 mln investment

Biofarm (BVB ticker: BIO), one of the biggest drug manufacturers in Romania, has inaugurated a new production and testing facility in Bucharest.

The company has invested over EUR 35 million in the new unit, which has a usable area of over 10.000 sqm and an annual production capacity three times higher than its existing plant, Profit.ro reported.

The new Biofarm factory will have four production lines: coated tablets/tablets/drops, soft capsules, solutions, and syrups. It benefits from state-of-the-art equipment and installations and automation software that helps optimize production and logistics flows.

“The new production unit is one of the most important investments in the pharmaceutical industry in the last 30 years, being the result of a sustainable investment plan. On a very competitive market, we are one of the most important local producers, and the completion of this unit will give us the opportunity to increase production capacity, but also research and development,” said Cătălin Vicol, general manager of Biofarm.

The company reported a net profit of RON 36.4 mln (EUR 7.4 mln) in the first half of this year, up 22% compared with the same period of 2020, as its sales rose by 14% to RON 118 mln.

Meanwhile, Biofarm’s shares have gained 65% in the last 12 months, and the company’s market capitalization has climbed to RON 636 mln (EUR 129 mln).

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