Biofarm records a net profit of 50.1 million lei in the first half of the year

Biofarm, (stock symbol BIO), one of Romania’s leading drug manufacturers, has recorded a 17% increase in turnover for the first half of 2023 compared to the same period last year. Net profit for the first half of 2023 reached RON 50.1 million, recording a significant increase of approximately 15% compared to the same period last year. In terms of EBITDA, the company reports an increase of 3%, reaching a level of 61.2 million lei.

“Our strong results in the first half of this year reflect our continued commitment to innovation, quality, and customer satisfaction. Although we faced increases in raw material and packaging prices, fluctuations in electricity and natural gas prices, and intense competition in the pharmaceutical industry, including in the recruitment of qualified individuals, this performance reflects our continued efforts to offer products relevant to today’s consumer needs and to ensure a reliable experience for all who use our products,” said Cătălin Vicol, Biofarm CEO.

In addition to its strong financial performance, Biofarm continued to strengthen its position in the pharmaceutical market by increasing sales of Biofarm brands dedicated to the symptomatic treatment of colds and flu, pain management, digestive health, and stress and anxiety. In addition, the company is the volume market leader in the reference categories of nine of its brands: Colebil, Triferment, Bixtonim, Carmol, Sennalax, Extravalerianic, Carbocit, Biofen Extra, Nervocalmin Sleep Easy.

Investment in research and development remains a key priority for Biofarm to continue to meet the ever-changing needs of consumers. In fact, in the first half of the year, Biofarm ranked 2nd in Consumer Healthcare (CHC) by number of units sold.

Biofarm has one of the most modern drug manufacturing facilities in Romania with an area of over 10,000 square meters and four production streams – tablets/film-coated tablets/tablets, soft capsules, solutions and syrups. The investment, which has so far exceeded €44 million, has tripled production capacity, and aligns with the company’s strategic objectives: portfolio development through line extensions, new product launches and expansion into foreign markets.