Romanian pharmaceutical company Antibiotice has EUR 40 million expansion plans

Romanian drug producer Antibiotice Iasi plans to invest about EUR 40 million in the next six years, according to a report the company sent to the Bucharest Stock Exchange. The company says it will grow production facilities and develop new pharmaceutical products. The company is currently researching over 30 new products which will be registered in the next 2-3 years, at least ten of these products targeting international markets, the company says. The first investment project will be finished in 2016 and targets setting up new production lines on the sites of some older buildings which don’t correspond to current standards. These new production capacities will cost about EUR 10 million. The company is also currently negotiating with two international companies for the transfer of new production technologies to its plant in Iasi, which will necessitate new labs and production sites. Antibiotice Iasi is one of the largest pharmaceutical producers in Romania. The company reported sales of EUR 72 million and a net income of EUR 7.1 million. The company is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 90 million. Its main shareholders are the Romanian Health Ministry, with a 53 percent stake, and investment company SIF Oltenia, with 11.5 percent. Andrei Chirileasa, andrei@romania-insider.com