Drug maker Antibiotice plans to double business turnover by 2030

The development plan of Antibiotice Iasi to 2030 will lead to a doubling of its current business turnover and to a rate of return three times higher, said Paula Coman, the economic manager of the company, at the official opening of a trading session on the Bucharest Stock Exchange (BVB) dedicated to the 25th anniversary of Antibiotice stock being traded on BVB."These are 25 years that have meant a transparent development for us. In 25 years, we became much more efficient and much more transparent in communicating with the shareholders in our company. (...) We have diversified our product range, we have become better domestically and internationally. In addition to this increase in revenues, we have become successful in running growth rates from period to period, so we are in a position to say that our development plan to 2030 will lead to a doubling of the current turnover, at a rate of return three times higher, based on a coherent plan of cost management, on a policy of managerial measures that imply an increase in sales in a balanced margin between on prescription and over-the-counter products, so that we can reduce or minimise the effects of the claw-back tax, which incurs additional expense and costs that erode our profitability. Simultaneously with the managerial measures, we have organisational measures in place so that we can reorganise activities in order to have lower and lower fixed expenses in relation to variable expenditure and income," said Coman.According to head of the BVB Listing Department Ileana Botez, in the 25 years on BVB, over 13,000 transactions were made of Antibiotice shares, 900 million shares were traded worth 595 million lei. Capitalisation increased more than 15 times to over 360 million lei (363 million lei at the reference price on Thursday, April 14).Antibiotice is the main producer of generic drugs in Romania. Since 2000, over 30 million euros have been invested in the company and currently the company has eight authorised production flows.The company's main business is the production of solid oral anti-infectives, being the only pharmaceutical company in Romania that distributes sterile powders for injectable anti-infectives. Antibiotice Iasi is the local leader for the production of hospital pharmaceuticals, holding the biggest share in topical products (ointments, creams, gels) for the local market, branching off into cardiovascular, central nervous system, and also oncological drugs.