Biofarm reports four years of continuous growth, aims to expand in foreign markets

Biofarm, one of the leading drug producers in Romania, registered between 2017 and 2020, an aggregate increase of 8 percent in turnover and 15 percent in profit, thus managing to strengthen its position in the top of the most important players, despite the pandemic and the conditions of the local pharmaceutical market.

Biofarm recorded an aggregate increase of 15 percent in EBITDA between 2017-2020, and the company’s liquidity gradually increased from 37 million RON in 2017, to 121 million RON in the first semester of 2021, whereas dividends were paid for the value of approximately 75 million RON. The net sales revenues achieved in the first semester of 2021 were over 117 million RON on the rise by 14 percent as compared to the first semester of 2020.

“Over the last four years, the Romanian pharmaceutical market has been constantly changing, and to maintain our growth trend we understood that, in this context, our key contribution is to develop win-win long-term relationships, with all partners in the distribution chain and winning strategies on the Biofarm brands. At the same time, during this period, Biofarm has undergone a comprehensive brand image revitalization process, both at corporate level and for strategic brands in the portfolio, thus meeting the expectations of consumers in the Consumer healthcare category in Romania, who are becoming more sophisticated and more attentive to the products they choose,” said Cătălin Vicol, general manager of Biofarm.

In the context of the 100-year anniversary, Biofarm has set itself as an objective to strengthen its position in the Romanian pharmaceutical market and in foreign markets by developing a competitive portfolio based on the real needs of the market. Currently, Biofarm exports to countries such as Azerbaijan, Russia, Georgia, Kurdistan/Iraq, Kyrgyzstan, Malta, the Republic of Moldova, Hungary, and Ukraine. The company is in the process of negotiating with several States in the region of Southeast Europe, Central and Southeast Asia, Africa, and the Arab region.

In the long term, Biofarm aims to expand its current portfolio by developing and manufacturing new products (medicines and food supplements) at high quality standards, purchasing licenses from other manufacturers or by concluding manufacturing contracts.