Loading ...Drug manufacturer Actavis Romania (formerly Sindan), controlled by Iceland’s Actavis Group, posted turnover worth 78.7 million euros in the first 9 months of the year, up 2% compared to the same period in 2007. Consolidated, Actavis Group’s business in Romania (including production, distribution, parent company product sales and exports of cancer treatment drugs) attained 122 million euros last year.
“Results are in line with this year’s forecast figures. In the first nine months of this year, the overall value of exports conducted by Actavis Romania amounted to 18.9 million euros, up 70 percent against the same time last year,” said Laurentiu Scheusan, country manager of Actavis Romania, quoted by Ziarul financiar.
The manufacturer strongly relies on exports, which are expected to account for 50% of the turnover within three years’ time. In 2006, the company’s exports amounted to 10 million euros, a 50% growth was recorded last year, with 2008 expected to see them double. Actavis is the largest drug exporter in Romania, with deliveries to all European Union member states.
The company exports more than 10 products in states such as Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Great Britain, Austria or Switzerland. Locally, Actavis Group entered in 2006 through the acquisition of cancer treatment drug manufacturer Sindan Pharma, following a 150 million euros deal. The company’s production capacity in Bucharest was then the only one specialized in this drug type within the group, but subsequently Actavis purchased a similar factory in Italy.
Recently, Bucharest production unit was inspected by Japan’s Drug Control Authority. In the first nine months of the year, the value of Actavis Romania exports to Japan stood at 5.1 million euros.
The manufacturer is operating on a market estimated at 498 million euros in Q3 of the year, up 22.6% compared to the similar period in 2007, according to market research company Cegedim. These results are derived after a weak first half of the year for the industry, which was affected by distribution problems. Players are not optimistic in connection with the last quarter.
“This year-end will have an evolution in line with what happened in the first nine months. Pharmaceutical market growth is weaker as against the previous years, influenced a lot by the forex rate and the frozen prices in RON till the end of October, which further remained so”, said Scheusan.
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