GSK: 2003 the toughest year

GlaxoSmithKline (GSK) Romania, the leading drugmaker on the Romanian market, estimates sales to increase by 8%-10%, up to $74m this year. Therefore, the company will maintain its 11.5% market share and forecasts similar or slightly bigger growth for 2004. “This has been undoubtedly the toughest year we have ever experienced on the drug market. However, we have managed to grow, due to the quality of our sales team and to the improving distribution operations,” Roberto Musneci,general manager of GSK Romania, told Ziarul Financiar. GSK Romania owns 35 pharmacies and will post $120m in turnover this year, up 13% from 2002. ZF