March 1 (SeeNews) - Bulgarian drug maker Sopharma [BUL:SFA] said on Monday that its consolidated net profit fell sharply to some 25 million levs ($15.4 million/12.8 million euro) last year from about 87 million levs in 2019.
Sopharma's sales rose 12.5% year-on-year in 2020, reaching 1.4 billion levs, the company said in an annual financial statement.
The drug maker's domestic sales increased by 16% year-on-year and accounted for 66% of the total sales in 2020. Sales in Europe grew by 7% on the year, accounting for 33% of all sales.
The company's operating expenses went up 14% to 1.4 billion levs, mostly due to a 19% increase in the cost of goods sold, to just over 1 billion levs.
Sopharma and its subsidiaries operate 11 production facilities (10 in Bulgaria and one in Ukraine), with a portfolio of over 200 products. Sopharma and its units employed 5,803 people as at the end of 2020, compared to 5,163 in 2019.
(1 euro = 1.95583 levs)