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Antibiotice business turnover advances 21pct in first nine months of 2021

Antibiotice Iasi has reported a net business turnover for the first nine months of 2021 of 247.83 million lei, up 21% y-o-y, according to data submitted on Wednesday to the Bucharest Stock Exchange (BVB).

The company says it is a world leader in the production of the active substance nystatin covering 55% of the international market.

The value of its gross profit at the end of September was 18.68 million lei, at the same level as in the same period of 2020.

In the first nine months of 2021, the value of medicines dispensed to patients in Romania was 15.3 billion lei (in distribution prices), up 18% from the same period of 2020.

The value of its export of finished products was 60.02 million lei, as projected in terms of value and profit margin.

Production churned out 244.7 million pharmaceutical items in the form of tablets, capsules, parenteral products, topical products (ointments, creams, gels), suppositories, ovules, biocidal products, by all three of its production divisions. In terms of value, the total production for the first nine months is 239.9 million lei.

The investment planned for 2021 is worth 93.52 million lei, approved by the General Meeting of Shareholders on April 21, 43.02 million lei of which was budgeted for the first nine months, and 32.51 million lei actually invested as of September 30, 2021.

Antibiotice S.A. started up in 1955 as the first producer of the active substance penicillin in Romania and South-Eastern Europe. It is currently the most important Romanian producer of generic drugs.

Antibiotice's product portfolio includes over 150 medicines for human use in 11 therapeutic areas, veterinary medicines, the active substance nystatin, and biocidal products.

Antibiotice Iasi has been floated on the Premium tier of the Bucharest Stock Exchange since 1997. The market capitalisation of Antibiotice as of September 30, 2021 was 381.32 million lei.