Biofarm (stock symbol BIO), one of the most important drug manufacturers in Romania, reports significant increases in the first half of the year compared to the same period of 2021: turnover increasing by 17% and a net profit of RON 43.6 million, up by 20%. In addition, Biofarm recorded EBITDA of RON 59.2 million, up by 21% compared to the first six months of the previous year.
“During the first half of this year, we recorded solid financial results, in a sensitive geopolitical context marked by inflationary pressures. We are confident that even this year, marked by an increase in the price of raw materials and an increase in production costs, we will achieve our main goal, which is to strengthen our position in the local pharmaceutical market and in foreign markets with the help of a competitive portfolio based on the real needs of the market, Cătălin Vicol, general manager of Biofarm, has stated.“
In an extremely competitive market context, Biofarm has recorded positive developments in the Consumer Healthcare (CHC) category, both in terms of volume and value. The therapeutic areas with the greatest contribution to the growth of the CHC category in the first six months were: Colds & Flu, Sore Throat and Pain Management. Biofarm brands covering these therapeutic areas have recorded significant double-digit sales, in line with the upword trend.
In the first 6 months of 2022, Biofarm ranked 3rd in the Consumer Healthcare (CHC) segment in terms of sold units.
Biofen Extra, the innovation of the year 2021 from the Biofarm portfolio, has consolidated its position in the category of pain management products and generated an added value of approximately RON 7.2 million in sales to consumers.
As an innovation ambassador, during the first six months of the year, Biofarm focused on launching new products in the CHC segment dedicated to immune support products, but also on launching line extensions to generate additional sales of the top brands in its current portfolio. Therefore, in the first semester of the year, 11 new products were launched, which will significantly contribute to the achievement of the objectives set for this year.
In the long run, Biofarm aims at expanding its current portfolio by developing and manufacturing innovative products at high quality standards, thus contributing to the evolution of the pharmaceutical industry in Romania.