Antibiotice profit up 85% in 2005

Drug maker Antibiotice Iasi increased its net profit by approximately 85% last year compared with 2004, to 5.6 million euros (20.2 million RON), according to the preliminary results of the company. At the same time, the company turnover progressed by approximately 39% to 46 million euros (165 million RON). “This increase in profitability is explained by the fact that we sold in circumstances favourable to profit-making, focusing on the projects that favoured it. At the same time, we made 125 employees redundant last year,” explained Ioan Nani, the company”s general manager. Another factor to have contributed to the increase in the company”s net profit was the reduction of the profit tax it had to pay, from 21-22% on average to 16%, Nani says. “Unlike in previous years, the managers of the company targeted certain market shares for each therapeutic segment, set by the company”s Board of Directors,” Antibiotice”s general manager specified. According to the data provided by market researcher Cegedim, quoted by Antibiotice, the drug maker”s market share stood at 3.3% last year, up from 2.7% in 2004. The management set a 3.5-4% share of the domestic drug market as this year”s target. Ioan Nani expects sales in 2006 to go up by 21%, estimating the pharmaceutical market will progress by 15% this year. Consumption of pharmaceuticals amounted to about 1 billion euros last year, 20% higher than in 2004. ZF