Sicomed's $2.4m news

Sicomed Bucharest, the leading Romanian drugmaker is planning to have at least 10 new products launched on the market by the end of 2003, to bring the company $2.4 million more in sales, Mirel Nicola, Sicomed marketing manager, told Ziarul Financiar. Most of the new products will be aimed at the OTC (no prescription drugs) segment, due to the company’s strategy to cut dependency on the hospitals. At present, the bulk of Sicomed products go to hospitals, which are extremely late in paying for the drugs supplied, therefore causing the company a serious cash problem. Out of the ten new products, four have already been released this year, and all of them are vitamins and nutritional supplements. The last newcomer, launched last week, is Osteovit, a drug designed to help prevent bone decay (osteoporosis). Sicomed representatives say the product entered a market segment estimated at $1.3 million a year and has the potential to sell $650,000’s worth a year. Attaining 50% market share is a realistic objective, the company says, because the product contains both vitamin K and vitamin D. ZF