August 17 (SeeNews) - The net profit of Romanian state-controlled drug maker Antibiotice [BSE:ATB] rose 17% year-on-year in the first six months of 2017, reaching 19.2 million lei ($4.9 million/4.1 million euro), the company said on Thursday.
Sales increased by an annual 2% to 147.2 million lei in the period January-June, Antibiotice said in its first-half financial report filed with the Bucharest Stock Exchange, BVB.
Antibiotice exports increased 25% in the first six months of 2017, reaching 67.6 million lei. The company exported mostly finished products and its active ingredient Nystatin to Asia (32%), the USA (28%), Europe (17%), Russia and CIS (9%), Middle East (8% ), Latin America (4%) and Africa (2%).
The company plans investments of 72 million lei in 2017, of which it has spent 15.8 million lei by end-June, mostly for new equipment and maintenance.
Antibiotice's net profit rose 12% to 30.4 million lei in 2016, while sales grew 1% to 332.4 million lei.
The company develops and manufactures 148 generic drugs for human medicine, veterinary drugs and Nystatin, an active ingredient used to prepare drugs for the treatment of fungal infections of the stomach, intestines, and mucous membranes. Its research centre and production facilities are located in Iasi county, in northeastern Romania.
Antibiotice shares traded 3.21% higher at 0.5780 lei as at 1138CET on Thursday on the BVB.
(1 euro =4.5816 Romanian lei)