Antibiotice posts 70m-euro turnover

Drug manufacturer Antibioitice Iasi ended last year as a state-owned company with net profit worth 30.7 million RON (9.21 million euros), up by 29% against 2006, amid a 229.4 million-RON (68.8 million-euro) turnover. Another manufacturer in the industry, Biofarm, which is in the race to take over Antibiotice in a consortium with the SIFs (Financial Investment Companies), reported a net profit worth 13.49 million RON (4.05 million euros), up just 6% on 2006. Biofarm’s profit rate was 21.6%, at a net turnover worth 62.34 billion RON (18.7 million euros). Antibiotice has budgeted a 17% increase for this year, similar to last year’s increase, which allowed it to preserve its position at No. 9 among local players. The company held a 3.1% market share at the end of December. Sales on the local market reached 211.5 million RON (63.5 million euros), up 18.5% on 2006, with the remaining sum being covered by exports.