Biofarm (stock symbol BIO), one of Romania’s leading drug manufacturers, has continued to invest in its production and testing facility inaugurated last year in Bucharest, so that it has already reached 44 million euros, after generating a total of 35 million euros at launch.
The factory has an area of over 10,000 square meters, four production flows – tablets/filmed tablets/drops (1), soft capsules (2), solutions (3) and syrups (4) and benefits from state-of-the-art equipment and facilities.
“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 Cătălin Vicol, Biofarm General Manager.
In the first six months of 2022, about 5% of the company’s total volume sales went to exports. Biofarm’s products are already active in foreign markets such as Azerbaijan, Iraq, Kyrgyzstan, Republic of Moldova, Hungary, and soon they will be found on pharmacy shelves in several countries in South Eastern Europe, Central and South East Asia, Africa, and the Arab area.
Biofarm is currently ranked in the top 5 manufacturing companies in the Romanian pharmaceutical market and is ranked 9th in the top pharmaceutical companies in Romania. In the first six months of 2022, Biofarm ranked 3rd in the Consumer Healthcare (CHC) segment in terms of number of units sold.
Biofarm has a competitive product portfolio covering 65 therapeutic areas and is the largest Romanian manufacturer of soft gelatin capsules, among the top three Romanian manufacturers of solutions and suspensions for oral administration and one of the largest manufacturers of tablets and sugar-coated tablets in Romania.
Biofarm ended 2021 with very good results, a turnover of 239 million lei which represents an increase of +10% compared to 2020 and a net profit of 60 million lei. In H1 2022, Biofarm recorded a turnover of 139 million lei up 17% versus H1 2021 and a net profit of 43.6 million lei, up 20% versus the same period last year. For 2022, Biofarm expects turnover to increase 16% up on 2021 to around 277 million lei.