Romania’s pharma industry to increase by 13% this year

The turnover in Romania’s pharma industry - including production, distribution and retail - will surge by nearly 13% this year to RON 67.8 billion (EUR 14.12 bln), as this is one of the industries that thrives during the coronavirus (COVID-19) pandemic period, KyesFin concluded in one of its reports.

The average annual growth rate of the industry, over the past nine years, has been 7.2% per annum.

According to KeysFin’s estimates, Romania’s economy will decrease by between 5% and 7%, with the decline depending on the duration of the state of emergency and other factors, such as the support provided by the authorities to the local SMEs directly or indirectly affected by this crisis. Nevertheless, there are sectors likely to thrive, such as the pharmaceutical industry, an industry that has grown steadily over the past 10 years and that will probably reach another all-time high this year.

“Therefore, KeysFin projected that, in 2020, the pharma industry, which is at the forefront of the fight against coronavirus, will contribute both to the stability of the local economy and to the health of Romanians,” said Roxana Popescu, Managing Director of KeysFin.

Other industries expected to grow this year are food retail, health and social assistance, IT&C, agriculture (depending on weather, though), energy and gas distributors, and water distribution and sanitation.

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