Terapia, 30% richer

Drug distributor Terapia Cluj – Napoca posted a 30% net profit increase in dollars in the first half compared with the year-ago period. The company is on the verge of being taken over by the American investment fund Advent International. The profit increased to $4.7m, while the turnover kept at $16m in the first half. The company’s total sales remained constant because in H1, 2002 Terapia was still selling calcium pantothenate, a chemical substance for veterinary use, whose productive facility had been closed early in 2002. The substance accounted for some 20% of the turnover, so that maintaining the sales level actually meant improving the performance of the pharmaceutical division. ZF