Bulgaria's Tchaikapharma lowers 9-mo net profit, ups revenue

Tchaikapharma's revenue edged up to 28.3 million levs in the first three quarters of the year from 27.2 million levs in the same period of 2018, the company said in an interim financial statement.

The majority of the company's revenue in the January-September period was generated from cardiovascular disease drugs - 21.9 million levs, up from 20.2 million levs in the prior-year period.

The company's expenses increased to 23.2 million levs in the review period from 19.2 million levs the year before, due to higher expenses for materials and hired services.

Tchaikapharma's assets amounted to 116.2 million levs at the end of September, up from 111.0 million levs a year earlier.

The company employed 138 people during the review period - five more compared to a year earlier.

Tchaikapharma's portfolio includes over 150 pharmaceutical products.

As at 14:00 CET on Tuesday, Tchaikapharma shares traded flat at 10.3 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)