Biofarm (stock symbol BIO), one of the most important drug manufacturers in Romania, reports significant growth for the first nine months of the year compared to the same period in 2021.
Biofarm recorded a turnover of 208.9 million lei, up 17%, and a net profit of 65.7 million lei, up 20%, compared to the same period last year. At the same time, Biofarm recorded EBITDA of 89.4 million lei, up 18% compared to the first nine months of the previous year.
“The very good results recorded in the last nine months validate our strategy of offering customers innovative products that contribute to their well-being. At the beginning of this year we set out to introduce new products to the market that become category leaders and we have achieved this with Biofen Extra, which dominates the pain management category in the ibuprofen and paracetamol segment. Biofarm will continue to develop its portofolio through line extensions or new product launches and we aim to expand into new markets,” said Cătălin Vicol, Biofarm CEO.
The therapeutic area that has seen the highest growth in the Consumer Healthcare (CHC) category over the last period has been Colds & Flu. Biofarm brands covering this therapeutic area, such as Carmol, Bixtonim Xylo, Septsosol, Bioflu have seen double-digit growth.
Biofen Extra continues to dominate the CHC pain management category in the paracetamol & ibuprofen combination segment. A new Biofen soft capsule formulation in 200 mg and 400 mg variants has recently been added to the Biofarm portfolio.
In the first nine months of 2022, Biofarm ranked 3rd in the Consumer Healthcare (CHC) segment in terms of number of units sold.
Biofarm aims to develop its product portfolio with innovative medicines manufactured to the highest standards and to contribute significantly to the long-term development of the pharmaceutical industry in Romania.
Biofarm’s portfolio covers the most important therapeutic areas of the Consumer Healthcare division-digestive & metabolic, respiratory & ORL, cardiovascular & circulatory, nervous system, multivitamins, with more than 20 representative brands.