Bulgaria's Sopharma 2016 sales revenue falls 5%

Bulgaria's Sopharma 2016 sales revenue falls 5% Sopharma/ All rights reserved

SOFIA (Bulgaria), January 10 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] said its sales revenue decreased by 5% last year.

Domestic sales revenues fell 2% in 2016 due to decline in prices, while exports dropped 6%, the company said in a bourse filing on Monday.

"During recent months we have observed signs of stabilisation of the economic and political situation in Russia and that gives us certainty for 2017," Ognyan Donev, Sopharma CEO and board chairman, said.

The company is positive about Ukraine's market recovery, Donev added.

Sopharma, Bulgaria's biggest drug maker, has subsidiaries in Serbia, Belarus, Poland, Latvia, Lithuania, Ukraine and Kazakhstan.

Sopharma shares traded 5.94% higher at 3.337 levs as of 10:10 CET on Tuesday in a volume of 11,516 shares on the Bulgarian Stock Exchange.

(1 euro=1.95583 levs)


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