During the first three months of the year, the company managed to reduce the inventory built up at distributors and pharmacies.
“The main objectives in the analyzed period were the increase of sales in the market (outflows of Antibiotice products from distribution)… as well as the increase of pharmacy sales towards patients,” the company said. It mentioned the market sales of Antibiotice products stood at RON73.1 million, up 7.3% compared with the first quarter of 2014, while sales from pharmacies increased 26.5%.
“Following the reduction of inventories in the market… there are premises of relaunching sales growth starting the second quarter,” the statement reads.
The sales revenue (the net revenue) stood at RON52.6 million in the first quarter, up 3% compared with the budget, but down from RON60.5 million in the same period of 2014.
Antibiotice said the clawback tax payments rose 24% in the first quarter compared with the previous three-month period. Therefore, the company is rearranging its portfolio in order to maximize profits so that it could absorb the significant increase of taxes.
The drugmaker said its exports grew 8% to $5.7 million in the first quarter, and it signed a new distribution contract for the US market.
For the whole of 2015, Antibiotice estimates sales revenue of RON323 million, up 1.3% on the year, but a 32% lower net profit, at RON21.2 million.