Antibiotice gains from restructuring export operations

Drug producer Antibiotice Iasi saw its net income surge by 75% to about 4.7 million euros (16.9 million RON) in the first nine months of this year, after restructuring their portfolio of drugs destined for export.

“The increase in profits was registered amid 40% higher exports of Nistatine, exceeding 5 million dollars (about 4.1 million euros) so far. Nistatine is used in the treatment of intestinal infections and is generating a solid profit margin,” explained Ioan Nani, general manager of Antibiotice. Antibiotice”s main export markets are the United States, Russia, China, India, Malaysia and Indonesia.

Another factor explaining this increased profitability is the halting of loss-making operations.

“As of May, we halted exports of Vitamin B12, an operation that generated losses. The result has been felt in the company”s increased profitability,” Nani also specified.

Antibiotice sales increased by about 30% in the period under analysis, reaching about 32.2 million euros.

The Antibiotice manager accounted for the sales surge by referring to the trend being followed by the pharmaceutical market.

“December will see some modifications in the structure of costs, as there will be a reshuffling of some components of these costs, but projections for the entire year will not change,” the Antibiotice head also said.

Antibiotice estimates sales of more than 45 million euros at the end of this year, while net income estimated early this year was close to 5 million euros.