Pharmaceutical companies expect two-digit growth

The three pharmaceutical companies listed on the Bucharest Stock Exchange, Antibiotice Iasi (ATB), Zentiva Bucuresti (SCD) and Biofarm Bucuresti (BIO), for this year project turnover growth of above 10%, after they saw slightly sliding turnovers last year, according to the budget drafts to be submitted to shareholder approval. Antibiotice Iasi, the biggest drug maker on the Stock Exchange in terms of turnover, forecasts revenues worth 248m RON (60m euros against a 4.1 RON/EUR exchange rate), up 12% from last year, when the company's revenues dropped by 4%. The company, controlled by the state through the Health Ministry, also expects 23% higher income, to 14.7m RON (3.58m euros). Czech Zentiva boasts the most upbeat scenario for this year, targeting 22% higher turnover, to 215m RON (52m euros), as well as operating income of 40m RON (almost 10m euros). Last year, it posted with operating losses of 10.3m RON and ended the year with 2.88m RON (0.7m euros) losses. Biofarm Bucuresti sees its turnover rise by 11.1%, to 74.5m RON (18.1m euros), but net income shrink by 31%, to 13.4m RON (3.2m euros).