Romanian pharma group Antibiotice Iasi ups net profit by 17%

State-owned pharma group Antibiotice Iasi recorded sales revenues of RON 147.2 million (EUR 32.1 million) in the first six months of this year, up 2.4% year-on-year. Its net profit increased by almost 17% reaching RON 19.19 million (EUR 4.2 million). Despite the good results, the company complained about Romania’s pharma market in its financial report. Antibiotice reported increases on all business lines in the first six months of this year, namely 15.8% for its sales to pharmacy chains, 2.3% for sales to independent pharmacies and 1.5% for sales to hospitals. The company had total assets of RON 572 million (EUR 125 million) at the end of June, up 7% year-on-year. Its debts rose by 36.4% to RON 169.6 million (EUR 37 million). The Health Ministry has a stake of 53% in Antibiotice Iasi. editor@romania-insider.com