“Revenues from sales are mainly from finite products sold directly to distributors. Exports stood at RON43.6 million by June 30, 2013,” the company said Tuesday in a statement to the Bucharest Stock Exchange.
In the first half of 2012, Antibiotice Iasi had sales of RON148.1 million and a net profit of RON25.7 million.
The company had a profit form exploitation of RON23.2 million (EUR5.3 million) in the first half of the year, nearly 30% lower than the RON32.9 million in the first half of 2012.
Expenses for raw materials increased nearly 10%, to RON57.9 million (EUR13.2 million), and staff costs increased 4%, to RON34.9 million (EUR7.9 million). In the same period last year, the company spent RON52.7 million on raw materials and RON33.5 million on staff.
The Romanian pharmaceutical market increased 3.5% in the first half of the year, to RON5.9 billion, from RON5.7 billion in the same period last year, according to market research company Cegedim.
The company said exports rose over 30% year-on-year to RON43.7 million (EUR10 million), from RON33.6 million from the same period in 2012.
Antibiotice Iasi exports finite pharmaceuticals and active substances in 60 countries worldwide, via over 100 partners.
Antibiotice is majority-owned by Romania’s Health Ministry, with a 53% stake, while investment fund SIF Oltenia (SIF5.RO) holds a 10% stake.
Antibiotice shares closed up 0.19% Tuesday, at RON0.4699, valuing the company at RON267 million (EUR60.5 million).