Biofarm reports profit of 70 million RON, up 6 percent in the first nine months
Biofarm, one of Romania’s leading drug manufacturers, recorded a net profit of 69.9 million RON in the first nine months of the year, up 6 percent compared to the same period last year. Turnover increased by 10 percent to 229 million RON, compared to 209 million RON in 2022. EBITDA reached 81.6 million RON.
“The results achieved in the first nine months of 2023 confirm our long-term development strategy. Even though the CHC market as a whole is experiencing a decrease in consumption, Biofarm manages to record growth in consumption and thus we are strengthening our position in CHC by protecting the top brands in our portfolio and by maintaining investments at a competitive level in CHC categories with high business potential. We will continue to focus on developing new solutions for patients’ health, to meet their needs and to honour the company’s mission of doing good for those around us through continuous improvement,” said Cătălin Vicol, Biofarm CEO.
The therapeutic areas with the highest absolute growth in value in the first nine months of the year in which Biofarm is active were cold & flu, pain, magnesium-based supplements, digestion, and nasal decongestants. Biofarm brands associated with these therapeutic areas have seen increases in value market share.
Biofarm has invested more than 44 million euros so far in one of the most modern drug factories in Romania, which covers an area of more than 10,000 square meters and has four production streams, specializing in tablets, film-coated tablets, dragees, soft capsules, solutions and syrups.