Antibiotice Iasi’s financial results for the first 9 months of 2019 indicate a 10 percent increase in gross profit, compared to the value recorded in the same period of 2018, reaching RON 24.15 million. The company’s operating profit reached RON 27.58 million, 11 percent higher compared to the value registered on September 30, 2018.
Sales revenues reached RON 242.41 million, a level comparable to the same period of the previous year.
During the analyzed period, the value of the clawback tax increased by 17 percent compared to the first 9 months of 2018, affecting the company’s profit.
The cost management policy has determined that over time Antibiotice will maintain its indebtedness within the limits of the historical trend. In the first 9 months of 2019, the debt ratio decreased by 3 percent as a result of the increase of equity at a faster rate compared to the increase of the borrowed capital, reaching 30.29 percent.
Internal market performance
- In the first nine months of this year, Antibiotice maintained its leading position in the segment of generic and OTC medicines marketed in hospitals, with a market share of 15.55 percent.
- Antibiotics is a quantitative leader in the pharmaceutical categories of ointments (market share 23.7 percent), suppositories (42.3 percent) and sterile injectable powders (72.6 percent).
- Antibiotice ranks 16th out of 227 companies in the list of non-prescription medicines and dietary supplements (OTC).
In the first nine months of 2019, the largest share of sales on the domestic market was held by products in the following classes: dermatological preparations, central nervous system, genito-urinary system, musculoskeletal system, respiratory system.
External market performance
Antibiotice exports recorded an 8.6 percent growth in the first 9 months of 2019. Exports during the period January-September 2019 totalled RON 97.24 million, 8.6 percent higher compared to the level planned for this period of 2019.
During the reporting period, Antibiotice recorded a 14 percent increase in the amount of nystatin (active substance) used in the main markets of North and South America. This increase is the consequence of a strategy aimed at adapting the product to clients’ requirements regarding the use of nystatin in the formulation of high value-added finished products, as well as prudent strategies for price and policies regarding partnerships with area agents / distributors.
- 50 percent growth on the North American penicillin market
The US market had positive results for the finished products segment, for which Antibiotice holds an FDA (Food & Drug Administration) certification. In the first 9 months of 2019, Antibiotice recovered an amount approximately 50 percent higher than during the same period 2018 for the main products Ampicillin and Nafciline sterile injectable powders.
- Consolidated sales growth of 32 percent in territories where Antibiotice has opened offices
The constant orientation towards facilitating the access of as many patients as possible to the products in the Antibiotics portfolio, has led the company to create a network of commercial offices in the Republic of Moldova, Vietnam, Ukraine and Serbia (Office). Through these representations Antibiotice follows the registration of a portfolio of anti-infectious drugs intended for consumption in hospitals, a policy adapted to the price specific to each market and a strong partnership with local distributors. Approximately 50 percent of the value of the export of finished products is obtained in these territories.
Between January and September 2019, sales in these four markets increased by 32 percent compared to the same period in 2018.