Medical drugs manufacturer Zentiva Romania obtained a net profit of almost RON 248 million in 2018, following licence transactions between Sanofi and the company, recently acquired by US investment fund Advent.
Zentiva Romania’s 2018 turnover was RON 458.6 million, a 10.6 percent growth compared to the previous year. Raw material spending increased by 11.8 percent to RON 220 million, while employee benefit spending grew by 6.6 percent to RON 62.5 million.
Other expenses increased by 63.5 percent, while operating profit increased by 179.3 percent to RON 291.3 million, mainly influenced by the sale of non-prescription drug licences between Zentiva and Sanofi group.
The company’s net profit in 2018 thus reached RON 274.8 million – 187.1 percent higher than the result in 2017.
French pharmaceutical group Sanofi last fall finalised the sale of Zentiva, its European generic drugs division, to US private equity fund Advent International. Advent paid EUR 1.9 million for the transaction. Zentiva Romania’s portfolio includes the drug Algocalmin, the market leader on its therapeutic area.
Zentiva Romania’s total assets reached RON 868.4 million at the end of December 2018 – 74.7 percent higher than they were in the previous year. In the same period, total debt increased by 95.7 percent to RON 252.5 million.