Bulgarian drug maker Sopharma's sales fall 6% y/y in Nov

Sopharma booked a 8% decline in its domestic sales in November, while exports went down by 5%, the company said in a bourse filing.

In the eleven months through November, Sopharma's sales rose by 15% on an annual basis, with domestic sales increasing by 10% and exports climbing by 19%.

The company reported in November a consolidated net profit of 67.9 million levs ($36.8 million/34.7 million euro) for the first nine months of 2022, up from 50.5 million levs a year earlier.

Sopharma also said in November that its largest shareholder, diversified group Donev Investments Holding, is seeking to increase its current 27.89% ownership. The investor is looking to buy up to 11 million shares, corresponding to up to 8.16% of the company’s capital.

As at CET 1347 on Monday, shares in Sopharma traded flat at 4.50 levs on the Bulgarian Stock Exchange.

The company has a portfolio of over 200 products, mainly generic drugs.

(1 euro = 1.95583 levs)