The investment had stood at EUR35 million until the opening of the production unit.
The factory has a surface area of over 10,000 square meters, four production flows for tablets/filmed tablets/drops, soft capsules, solutions and syrups, and also benefits from state-of-the-art equipment.
“We aim to double our turnover in the next five years, with a major focus on exports. The new production facility will make a major contribution to achieving this goal. We currently deliver 25 million units of drugs and food supplements annually, but the two Biofarm factories can produce up to 100 million units at full capacity, depending on the product mix. We want to continue Biofarm’s commitment to invest in the future and contribute to the development of the pharmaceutical industry in Romania”, said Catalin Vicol, Biofarm General Manager.
In the first six months of 2022, about 5% of the company’s total volume sales went to exports in countries such as Azerbaijan, Iraq, Kyrgyzstan, Republic of Moldova, Hungary. The company also plans to step into markets in South Eastern Europe, Central and Southeast Asia, Africa and the Arab area.
Biofarm is currently ranked in top 5 manufacturing companies on the Romanian pharmaceuticals market and is ranked 9th among pharmaceutical companies in Romania. In the first six months of 2022, Biofarm ranked 3rd in the Consumer Healthcare (CHC) segment by the number of units sold.
In the first half of 2022, Biofarm had a turnover of RON139 million, up 17% on the year, and a net profit of RON43.6 million, up 20% on the year.
For 2022, Biofarm targets a 16% increase in turnover to almost RON277 million.