Biofarm expects 18m-euro revenues

Generic drugs manufacturer Biofarm Bucharest estimates a turnover worth some 17.7 million euros for this year, a 24% increase against 2005. Biofarm registered a turnover worth 50.4 million RON (14 million euros) in 2005. “Growth in this year”s turnover is generated by the launch of new products, the increased availability of our products on the market, a boost in domestic sales, as well a rise in exports by penetrating new markets,” stated Dan Vasile, general manager of Biofarm. The company estimates a profit of 3.6 million euros for this year, an approximately 11% increase against the previous year. A big part of last year”s profit could be used to increase the share capital, though the Board of Directors will possibly discuss the final decision in the next few months. ZF