Antibiotice Iasi posts turnover up 20% in first half of 2011

Romanian pharmaceutical manufacturer Antibiotice Iasi posted a turnover of EUR 33.1 million (RON 138.5 million) in the first half of 2011, up 20 percent compared to the same period in 2010. Over the same period, the company’s gross profit rose by 35 percent to EUR 6.7 million (RON 28.2 million). The company’s good results were due to the new products launched in the last period, and the profitability of exports. However, the advance in business reported in the first half was supported by the internal market, where sales rose by 28.4 percent. Antibiotice Iasi's exports fell by 8.6 percent over the same period. The company has announced recently that will invest EUR 12 million in expanding the production capacity, a project that is expected to be completed in 2013. Around EUR 4.2 million of the EUR 12 million investment will come from European funds. Irina Popescu, irina.popescu@romania-insider.com (photo source: Antibiotice.ro)