Antibiotice Iasi wants 30 million lei credit from UniCredit Bank
The medicine manufacturer Antibiotice Iasi (ATB) summoned shareholders on August 11 to approve a foreign exchange credit of 30 million lei, (6.7 million Euro) from UniCredit Bank. 2016-07-14 12:25:38
Recently, the company announced the delivery of a record quantity of injectable products to the US, for 3.4 million dollars. In 2015 a product manufactured by the Iasi company was authorised in the US, thus creating opportunities for the increase of exports to that market.
In the budget and income report for 2016, the company intends to set up a representative office in Vietnam, to support the development of business in South-Eastern Asia. The producer proposed a 30% increase of medicine sales in Vietnam in 2016 and the trebling of volumes by 2020.
The company intends to reach incomes of 350 million lei and a gross profit of 34 million lei, both indicators on the rise by 6 per cent against the previous year, estimated taking into account factors with negative influence such as the progressive increase of claw back tax. Last year Antibiotice Iasi reported businesses of 332 million lei, on the rise by 3 per cent against the previous year, while net profit dripped by 13 per cent to 27 million lei.
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