Romanian drug producer sees 24% higher profit in 2017

Bucharest-based drug producer Biofarm increased its turnover by almost 12% in 2017 compared to the previous year, to RON 170 million (EUR 37 million). The net profit went up by 24%, reaching RON 36.5 million (EUR 8 million). The company has a factory in Bucharest, which produces drugs and food supplements that sell over the counter. Biofarm is the first local listed company that presented its preliminary results for 2017. Three local investment companies, namely SIF Muntenia, SIF Banat-Crisana and SIF Moldova, control over 86% of the company’s shares. Biofarm is listed on the Bucharest Stock Exchange and has a market capitalization of close to EUR 65 million. editor@romania-insider.com