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Antibiotice Iasi invests EUR 2.5 M in a new production facility to boost exports

Iasi-based pharmaceutical company Antibiotice S.A. invests in a new production facility for creams, ointments and gels, products that represent 40 percent of the local market and 35 percent of the company’s export sales.

“Thus, we increase the output by 30 percent to send more to export,” Ioan Nani, General Manager of Antibiotice S.A. said for zf.ro, adding: “We have a total investment budget of EUR 5 million, half of which will be for the new production line and the rest for equipment upgrading other flows. We are still attractive, as long as the clawback tax will not ‘asphyxiate’ us”.

After the first nine months of last year, the local drug maker recorded a net profit of RON 18 million (EUR 3.9 million), up by 20 percent year-on-year, while the sales increased by 5 percent to RON 227.3 million, according to its financial report.

At the same time, the company’s exports increased 15 percent in the first nine months of 2016, reaching 72.5 million lei. Antibiotice exported mostly finished products and its active ingredient Nystatin to the USA, Europe and South-East Asia.

Also, in order to boost its business in South East Asia, Antibiotice will set up a subsidiary in Vietnam.

“We are investing in areas where we have tradition, we are working on topical products since 1960 and, following this new investment, we align with international standards worldwide,” Nani concluded.

 

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