Romanian drug manufacturer Antibiotice Iasi recorded a net profit of 87.9 million RON in the first nine months of this year, up 15% compared to the same period last year, according to a company press release sent on Friday.

In the first nine months of 2023, the company reported a profit of 76.7 million RON.

According to the cited source, the company’s turnover in the domestic and international markets in the first nine months totaled 506 million RON, up 9% compared to the similar period of 2023, when the turnover amounted to 463 million RON.

On the domestic market, Antibiotice achieved a net turnover of 303.79 million RON, 5% above the level achieved in the same period of the previous year.

„During this period, the main objectives on which Antibiotice focused its activity were to increase the market share correlated with the sales potential of the products in each of the segments of the pharmaceutical market, respectively: closed circuit pharmacies (hospital) and open circuit pharmacies (retail),” the press release states.

At the same time, Antibiotice Iasi recorded a turnover of 202.26 million RON on the international market between January and September 2024, 16% higher than in the same period of the previous year, a positive effect of the company’s territorial expansion strategy.

The Middle East saw a 50% increase in sales compared to January-September 2023. This result is a result of market penetration in the United Arab Emirates and sales growth in Saudi Arabia and Iraq in both the anti-infective and cardiovascular portfolios.

In the other regions, traditional for the company, such as North America (USA and Canada), Asia (Vietnam) and Moldova, sales have been on a growth trend between 8-20% and thus remain in the top 5 strategic territories of the company.

According to the cited source, in the first nine months of this year the company’s portfolio was completed with 19 new products. „They address infectious, cardiovascular, musculoskeletal, digestive tract and central nervous system pathologies, in line with the company’s strategic development directions,” the press release said.

With a view to sustainable development, the company realized in the first nine months total investments of 78.5 million RON, an amount more than 50% higher than the 51.03 million RON realized in the similar period of 2023.

In September 2024, Antibiotice SA entered the main index of the Bucharest Stock Exchange, BET, which comprises the 20 most traded listed companies, considered the best performers on the Romanian capital market.

AGERPRES