LaborMed spends 7m euros for exports

Romanian drug maker LaborMed Pharma will invest seven million euros in 2005 and 2006 in order to expand its product portfolio and develop the export business. “Our major goal is to develop new, modern generic drugs, with bioequivalence studies that can replace reference products. At the same time we will begin registering LaborMed”s products in other countries in Eastern Europe and the European Union,” the company”s chairperson, Xeni-Camelia Dicu stated. At present the company has more than 70 products registered in Romania, half of which are exported to Russia, Bulgaria and the Commonwealth of Independent States. The volume of exports, however, is insignificant compared with the total turnover. Another goal of LaborMed for this year is doubling the turnover to 20 million euros. The company”s forecasts are based on both the drugs it already has in its portfolio and the new products like anti-diabetes, analgesic and antipyretic, cardiovascular, nootropic and anti-ulcer drugs. LaborMed Pharma”s sales last year amounted to 11 million euros, an increase of 58% on 2003. ZF