Sandoz pharmaceutical company, which owns two productionfacilities in Târgu Mureş, will invest 7m euros in its Romanianplants next year, after this year's investment budget amounted to10m RON (2.3m euros).
"We're making further investments despite the recession toachieve a strong position when the crisis fades away. At present,our plans, which have been submitted to European executives forapproval entail capital investments. Our shareholder (Sandoz ispart of Novartis i.e.) has already operated a 70m RON (16.7m euros)capital increase in October to secure the funds to carry out theseinvestments in the following years," said Akos Balogh, CFO ofSandoz Pharma Services SRL.
For 2010, the company has budgeted sales worth almost 300m RON(71.4m euros) and its turnover topped 200m euros after the firstnine months.
"Sales advanced at a two-digit pace, as we expanded our marketshare, and the market is also rising, but is starting from a verylow base," Balogh added.
The company's drug exports amounted to 30m RON (7.1m euros) in thefirst three quarters, up 5%.
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