Laropharm: Following restructuring, we expect 80% growth in 2009

Drug manufacturer Laropharm Bucuresti, a small player in the pharmaceutical industry, has revised its internal structure bringing on board a new executive management, and has budgeted investments of 22% of its turnover in research & development of new products. This is expected to bring an 80% turnover increase for next year. “The shareholders have decided that the best decision was for Laropharm to have a new managing team. All our plans are medium and long-term ones, but we also have projects we have had underway for a while now, and which are to be finalised in the coming period,” said Cristian Alecu, chief executive of Laropharm. In 2007, the company reported a 2.5 million-euro turnover. A trained pharmacist, Alecu (30) took over the executive management of the company on September 15, after three months of heading the manufacturer’s research & development department.