Farmexim estimates to double net income

Drug distributor Farmexim Bucuresti estimates that it will double its net profit this year, to 16.53 million RON (5.3 million euros), according to the company’s spending and revenue budget. Last year, Farmexim reported a net profit worth 8.28 million RON (2.3 million euros). The company budgeted revenues up by 52.1% for 2007, to 585.75 million RON, whereas expenses could climb by 35.3% to 503.78 million RON. The majority shareholder of the drug distributor is businessman Ovidiu Buluc, who controls 59.02% of the shares. Farmexim was set up in 1990 and was the first company to handle the import and distribution of pharmaceutical products in Romania. The company has over 3,000 clients nationally, which include drugstores, hospitals, institutions and companies, and holds
13 regional warehouses, which are located in Arad, Cluj, Oradea, Iasi, Galati, Constanta, Timisoara, Craiova, Brasov, Sibiu, Bacau, Ploiesti and Targu Mures.