The plans for 2020 include growth of 10% if exports return to the pre-COVID-19 pandemic levels, Terapia CEO Dragos Damian says.
Revenue is flat because the company did not achieve the expected export growth. The export freeze in March prevented it from exporting some $15 milion worth, so the amount was not included in the 2020-2021 financial year budget. This is one more proof that Romania is hindering its manufacturers. The plan is to achieve growth of 10% this year in case exports rebound, the Terapia official said.
Medicine exports were suspended during lockdown except for those made by Romanian manufacturers, but a number of manufacturers complained that no medicines left the country, even though they were not drugs for use in coronavirus treatment.
Terapia posted RON169 million profit last year, RON9 million higher than in 2018,
(English version by Loredana Fratila-Cristescu)