Romania's Antibiotice 9-mo net profit jumps 160.2% y/y

Sales of Nyastin, an active ingredient of which Antibiotice is a world leading manufacturer, rose by an annual 66% to 59.4 million lei, during January-September.

Total expenses rose by 11.6% on the year to 389.9 million lei, the highest being those associated with raw materials and consumables.

The company invested 58 million lei in the development of the product portfolio, green energy production, modernisation of laboratories and logistics during the first nine months of the year.

Antibiotice is a Romanian pharmaceutical company established in 1955 which has its research centre and production facility near Iasi county, in eastern Romania. The company employed some 1,350 at end-September.

Antibiotice is owned by the Romanian state through the health ministry (53%), retail investment fund SIF Oltenia (29.4%) and other shareholders (17.6%).

Its shares traded 2.44% higher at 1.26 lei by 1535 CET on Wednesday on the main market of the Bucharest Stock Exchange.

(1 euro=4.97037 lei)