Romanian drug producer continues international expansion

Romanian state-owned drug producer Antibiotice Iasi will continue its international expansion this year, aiming to increase the share of exports to 40% of its turnover. The company, which is controlled by the Health Ministry, which holds a 53% stake, plans to open sales offices in Chisinau, in the Republic of Moldova, and Kiev, in Ukraine, local Ziarul Financiar reported. The company has already opened an office in Vietnam and has taken 30 of its products on the Asian market, according to Antibiotice general manager Ioan Nani. It will also sign new distribution partnerships in the US. Last year, exports represented almost a third (32%) of the company’s turnover, which amounted to RON 336 million (EUR 73.5 million). Antibiotice ended the year with a net profit of RON 33 million (EUR 7.2 million). editor@romania-insider.com