2.1 C
Bucharest
December 6, 2021
BUSINESS BUSINESS COMPANIES ECONOMY

Four years of continuous growth for Biofarm: In the centennial year, the company continues to invest and expand in foreign markets

Biofarm (BIO stock symbol), one of the leading drug producers in Romania, registered between 2017 and 2020, an aggregate increase of 8% in turnover and 15% in profit, thus managing to strengthen its position in the top of the most important players, despite the 19 COVID pandemic and the conditions of the local pharmaceutical market.

Biofarm recorded an aggregate increase of 15% in EBITDA between 2017-2020, and the company’s liquidity gradually increased from 37 million lei in 2017, to 121 million lei in the first semester of 2021, whereas dividends were paid for the value of approximately 75 million lei. The net sales revenues achieved in the first semester of 2021 were over 117 million lei on the rise by 14% as compared to the first semester of 2020.

Over the last four years, the Romanian pharmaceutical market has been constantly changing, and to maintain our growth trend we understood that, in this context, our key contribution is to develop win-win long-term relationships, with all partners in the distribution chain and winning strategies on the Biofarm brands. At the same time, during this period, Biofarm has undergone a comprehensive brand image revitalization process, both at corporate level and for strategic brands in the portfolio, thus meeting the expectations of consumers in the Consumer healthcare category in Romania, who are becoming more sophisticated and more attentive to the products they choose.” said Cătălin Vicol, general manager of Biofarm.

Biofarm is one of the most important players in the local pharmaceutical industry, in the Consumer Healthcare (CHC) category, being, after the first 6 months, on the 3rd place in terms of value, while from the volume perspective occupied the 2nd position, with 9, 8 million units sold to the final consumer.

Today, the Biofarm’s portfolio covers the most important therapeutic areas in the Consumer Healthcare division (digestive & metabolic, respiratory & ORL, cardiovascular & circulator, nervous system, multivitamins), with over 20 representative brands and is a market leader in volume in the reference categories of seven of its brands: Bixtonim, Carmol, Colebil, Triferment, Sennalax, Nervocalmin and Cavit Junior.

In the context of the 100-year anniversary, Biofarm has set itself as an objective to strengthen its position in the Romanian pharmaceutical market and in foreign markets by developing a competitive portfolio based on the real needs of the market. Currently, Biofarm exports to countries such as Azerbaijan, Russia, Georgia, Kurdistan/Iraq, Kyrgyzstan, Malta, the Republic of Moldova, Hungary, and Ukraine. The company is in the process of negotiating with several States in the region of Southeast Europe, Central and Southeast Asia, Africa, and the Arab region.

In the long term, Biofarm aims to expand its current portfolio by developing and manufacturing new products (medicines and food supplements) at high quality standards, purchasing licenses from other manufacturers or by concluding manufacturing contracts.

 

About Biofarm

 

Biofarm® is one of the first Romanian producers of medicines and food supplements. For 100 years Biofarm® has been with the specialists in Romania in the race to find the best solutions for maintaining human health. Today, Biofarm® is one of the top 10 manufacturers on the Romanian pharmaceutical market, a dynamic and highly competitive market. Biofarm® has a competitive product portfolio covering 65 therapeutic areas and continuously invests in media, commercial and marketing campaigns to promote its own products

Related posts

PwC: 4.1 pc average wage increasing in the private sector

Nine O' Clock

Wizz Air announces new route Bucharest-Tel Aviv

Nine O' Clock

Orange Romania: RON 3 M-project to enhance the employees’ skills

Test