Biofarm (stock symbol BIO), one of Romania's leading drug manufacturers, recorded a net profit of 69.9 million lei in the first nine months of the year, up 6% compared to the same period last year. Turnover increased by 10% to 229 million lei, compared to 209 million lei in 2022. EBITDA reached 81.6 million lei.
"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.
In the first nine months of 2023, Biofarm ranked 2nd in the Consumer Healthcare (CHC) segment in terms of units sold. In value terms, the company strengthened its sales to end consumers, recording an increase of more than 15% compared to the first nine months of 2022, based on the purchase price in pharmacies.
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.
The continuous development of new products, constantly adapted to the needs of consumers in continuous diversification, is one of Biofarm's pillars of growth. The company is also the volume market leader in the reference categories of 8 of its brands: Bixtonim, Colebil, Triferment, Sennalax, Extravalerianic, Carmol solution, Carbocit and Nervocalmin. This balanced mix of long-lasting brands and innovation is a strong differentiator for Biofarm's portfolio, positioning the company among the most relevant players in the CHC category.
Biofarm has invested more than 44 million euros so far in one of the most modern drug factories in Romania, which covers an impressive 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. This state-of-the-art plant is a key element in achieving the company's strategic objectives, which include portfolio development through line extensions, new product launches and expansion into foreign markets.
The information provided by KomuniK
President Nicușor Dan, in office for roughly three months, attended the Salzburg Industrialists' Summit, the most important reunion of the Austrian business community, urging them to invest in Romania. Specifically, the president emphasized the strategic opportunities in the defense, energy, infrastructure, and logistics sectors. “Romania is significantly expanding its defense industry. Our sector offers real […]
A scandal broke out on Friday, July 25, after it was made public that deputy prime minister Dragoș Anastasiu was a witness in an older corruption case involving one of his companies. The company, Eurolines, paid bribes for eight years to a financial inspector from Romania’s tax agency ANAF. Records from the Anti-Corruption Directorate show that between […]
A scandal broke out on Friday, July 25, after it was made public that deputy prime minister Dragoș Anastasiu was a witness in an older corruption case involving one of his companies. The company, Eurolines, paid bribes for eight years to a financial inspector from Romania’s tax agency ANAF. Records from the Anti-Corruption Directorate show that between […]
The Drapers' Bastion in Brașov, built between the years 1450–1455, will be restored with European funds. The urban landmark will become an interactive museum integrated into the tourist circuit. The rehabilitation of the Drapers' Tower will support not only tourism but also the construction sector, contributing to the economic and cultural revitalization of Brașov, according […]
The National Meteorological Administration (ANM) has issued a code-red warning for persistent and intense heat from July 26, 10:00 AM to July 27, 10:00 AM for the regions of Banat, Oltenia, most of Muntenia, and southern continental Dobrogea. Day temperatures are expected to reach between 39 and 43 degrees Celsius, while the temperature-humidity index is […]
The fifth edition of Jazz Bastion will bring three concerts to the Weavers' Bastion in Brașov, featuring musicians from Romania, Ireland, and Switzerland. This year's edition "highlights the cultural diversity of music, which always brings together artists and audiences alike, regardless of language, nationality or affinities," the organizers explained. The public can attend performances by […]
