Antibiotice Iasi is planning to borrow RON 30 mln from Unicredit Bank

Newsroom 11/07/2016 | 16:57

The medical drug producer Antibiotice Iasi (ATB) has called out a meeting with the shareholders on 11 August to approve the contract of a multi-currency loan of RON 30 million (EUR 6.7 million) from Unicredit Bank, according to Mediafax.

Recently, the company has announced that it delivered a peak quantity of injectable products in US, the biggest economy at global level, valued at USD 3.4 million. In 2015 the authorization procedure on US market of a product made by Antibiotice Iasi was finalized, which creates opportunities for growth and boost exports on the market.

As revealed by its 2016 budget and revenues report, the company plans to set up an agency in Vietnam to support the development of businesses in South-East Asia. The producer aims for a growth of 30 percent in sales of drugs in Vietnam in 2016 and a triple increase in the volumes by 2020.

Also, Antibiotice Iasi aims for revenue of RON 350 million in 2016 and a gross profit of RON 34 million, both indicators being up by 6 percent year-on-year, taking also into account negative factors, such as the clawback tax. Last year the company had a turnover of RON 332 million, recording a growth of 3 percent compared with 2015, while the net profit decreased by 13 percent to RON 27 million.

Georgiana Bendre