The growth in Terapia sales was driven by the launch of new drugs and an increase in exports. The profit was down, however, by 7% to RON131.9 million, according to publicly available data.
“We optimized the product mix on the domestic market, focusing on non-prescription products and launching 15 new drugs and boosted exports to the European Union and the former CIS (Commonwealth of Independent States i.e.),” Dragos Damian, CEO of Terapia Cluj, told ZF.
“The decline in profit is the result of the claw back tax, because we budgeted RON45 million for it at the beginning of the year and paid more than RON55 million.”
The claw back tax is a requirement for pharmaceutical companies to pay a cut of their sales on the Romanian market to the government and has been often criticized by the industry. (EUR1=RON4.6397)
(English version by Loredana Fratila-Cristescu)