Electoral year boosts Sandoz sales

Sandoz, part of the Swiss Novartis-Lek Group, enjoyed 19% growth in turnover in real terms in the first half of the year, bringing turnover up to more than $15 million and its share of the Romanian drug market to 3.5%. Sandoz Romania is the generic drug producer in the Swiss Novartis-Lek Group and includes three producers: Lek Pharmaceuticals, Sandoz (formerly Biochemie) and Lek Pharma Tek. “The total drug market rose by 41% in the first half year, compared with the same period in 2003, and the top ten multinationals progressed faster than their domestic counterparts,” stated Tomislav Cuk, Novartis-Lek chairman. Novartis logged more than $30 million turnover in the same period. The market reached an extremely high level due to the launch of new expensive products and the effects of an election year that saw supplementary funding for expensive medicines, the most significant growth factor in the market, according to Cuk. ZF