Labormed sees 50% increase

Romanian generic drugs producer Labormed Pharma estimates turnover to increase by more than 50% by the end of this year, compared with 2003. Labormed last year sold approximately 9 million euros’ worth. “The increase in the company’s turnover is due to the increase in the sales of the key products, as well as to the introduction of new ones,” marketing manager Gabriel Cernica stated. The cardiovascular drug segment accounts for more than 50% of Labormed’s total turnover, with the company ranking among the top three Romanian producers on this segment, according to its own estimates. The company’s official says Labormed Pharma is the third leading Romanian producer of cardiovascular drugs, a market estimated to more than 170 million euros last year. “The cardiovascular segment will go up, though not significantly, in 2005. We rely more on the organic growth of our business,” Cernica added. Labormed accounted for 1.2% of the pharmaceutical market in the last 12 months, calculated at the producers’ prices, and for 2.8% of the market in terms of sales volume, according to Cernica. ZF