Croatian pharmaceuticals co Genera turns to 9-mo cons net loss

Total consolidated revenues increased by 11% to 138.4 million kuna through September, the company said in a bourse filing on Tuesday.

The group posted an increase in exports of 44% in the first nine months of 2012 with the share of foreign markets in total revenues rising to 53% from 40% a year earlier.

The business of the Genera Group (www.genera.hr) spans pharmaceuticals, animal healthcare products, animal feed additives and agrochemicals.

Genera said it was preparing during the third quarter to enter the markets of Turkey and Indonesia. "The mentioned activities required increased investments in marketing and sales and R&D, which has additionally influenced the realised results for this period," the statement said.

The group's Genera Pharmaceuticals unit, with core business is the segment of human pharmaceuticals and disinfectants, obtained in the third quarter of 2012 two registration certificates from the Agency for Medicinal Products and Medical Devices of Croatia, and three new products were released on the Croatian market.

The unit plans to launch on the market by end-2012 all of its registered pharmaceuticals, 12 of which have already been entered into the basic or supplementary drug reimbursement list of the Croatian Institute for Health Insurance.

Genera said five new chemopharmaceutical products were licensed over the review period for the markets of Croatia, Bosnia and Herzegovina, Serbia, Slovenia, Macedonia, Montenegro and Kosovo. Three agricultural products were licensed for the Croatian market and seven for the market of Bosnia and Herzegovina.

(1 euro = 7.5396 Croatian kuna)