Zentiva to see at least 120m-euro business next year

Pharmaceutical company Zentiva, one of the most important producers in Romania, estimates an increase in its local business by at least 20% next year, to exceed the 120 million-euro mark. The increase in the company’s business comes amid a level of drug consumption in Romania among the lowest in Europe, with weaker results being seen only in Bulgaria. “The low consumption of drugs is due mainly to the low purchasing power , as well as to the insufficient funding granted for drugs or to the low level of education among patients,” specified Mariana Wencz, country general manager at Zentiva SA. The Czech company has been present on the market of generic drugs in Romania since 2003. At the end of last year, Zentiva acquired Venoma Holdings Limited, which held a 51% stake in Sicomed. Later, the company launched a tender offer to acquire 204.39 million shares, accounting for 46% of Sicomed’s share capital. Following this move, Zentiva reached about 75% in the company. Klaas Postema was at the helm of the Sicomed producer until the end of August, when the contract he had with the Czech manufacturer expired. He did not wish to extend his contract, but retained his duties as chairman of the Board of Directors.