The cumulated turnover of companies in the Romanian pharmaceutical sector has increased by almost 30% in the last five years, to over EUR 3.8 billion, in 2014, according to data compiled by credit risk management firm KeysFin.

The cumulated profits in the sector also went up by 83%, to EUR 225 million, the firm’s estimates show, reports local Capital.ro.

The research includes over 5,800 companies in Romania that specialize in drug manufacturing, distribution and retail.

The analysis also shows that the total spending for drugs in Romania between 2009 and 2014 amounted to over EUR 19 billion while net profits totaled almost EUR 1 billion.

Romania is a market of over 16 million consumers for pharmaceutical companies. The drug use is one of the highest in Europe, as aggressive marketing and the inefficiencies in the public health sector have induced Romanians the idea that they can self-medicate, according to KeysFin analysts.

editor@romania-insider.com