Biofarm, (stock symbol BIO), one of the most important drug manufacturers in Romania, ended 2023 with a net profit of about 77 million lei, up 9% from the previous year and a turnover of approx. 280 million lei, according to preliminary results (unaudited).
"In 2023, we successfully implemented cost optimization strategies, focusing in particular on two of our company values: performance and end-consumer care. In doing so, we were able to identify effective ways to control our expenses, even in the context of rising raw material and packaging prices. The Consumer Healthcare category in Romania is becoming more and more competitive year by year, marked also by a slight decline in volumes in 2023 compared to 2022. However, we ended 2023 managing to consolidate our position on the market, with a positive evolution of the volume market share and to contribute positively on the quality of life of patients and consumers in Romania", said Cătălin Vicol, Biofarm CEO.
Biofarm continued to strengthen its market share in the Consumer Healthcare (CHC) segment, and ended 2023 in second position in terms of number of units sold.
The company dominates in value in 6 key categories across brands: Bixtonim, Triferment, Colebil, Extravalerianic, Carmol and Carbocit. In addition, Biofarm is the volume leader in no less than 8 categories, highlighting the outstanding performance of the brands Bixtonim, Colebil, Triferment, Sennalax, Extravalerianic, Carmol, Carbocit and Nervocalmin. These results confirm the success of Biofarm's approach and commitment to innovation. Through its achievements, the company continues to establish itself as a trusted player in Consumer Healthcare, offering effective and affordable solutions to consumers.
Biofarm has two drug factories in Bucharest and a product testing and development unit, and its portfolio of over 100 products covers the most important therapeutic areas of the Consumer Healthcare division (digestive & metabolic, respiratory & ORL, cardiovascular & circulatory, nervous system). Constant innovation in the development of new products is one of the fundamental elements for Biofarm's expansion and strengthening its position among the leaders in the pharmaceutical industry.
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