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Biofarm records in 2023 net profit worth 77 million lei
Biofarm recorded in 2023 a net profit worth 77 million lei, up 9% from the previous year, and a turnover of about 280 million lei, according to preliminary unaudited results released the company released on Thursday.
"In 2023, we have successfully implemented cost optimisation strategies, focusing in particular on two of the company's values: performance and care for the end consumer. Thus, we managed to identify efficient ways to control our expenses, even in the context of rising raw material and packaging prices," said Biofarm CEO Catalin Vicol.
According to him, the Consumer Healthcare category in Romania is becoming more and more competitive year by year, with a slight decline in volumes in 2023 compared to 2022.
"Nevertheless, we ended 2023 managing to consolidate our position on the market, with a positive evolution of the volume market share and to contribute positively to the quality of life of patients and consumers in Romania," added Catalin Vicol.
According to the source, Biofarm continued to consolidate its market share in the Consumer Healthcare (CHC) segment and ended 2023 in second position in terms of number of units sold.
Biofarm has two medicine factories in Bucharest and a product testing and development unit, and its portfolio of over 100 products covers the most important therapeutic areas in the Consumer Healthcare division (digestive & metabolic, respiratory & ENT, cardiovascular & circulatory, nervous system).
Biofarm is one of the leading Romanian manufacturers of medicines and dietary supplements. For 100 years Biofarm has been alongside Romanian specialists in the race to discover the best solutions for maintaining human health.
Currently, Biofarm is one of the top 10 manufacturers on the Romanian pharmaceutical market, a dynamic and highly competitive market. Biofarm has a competitive product portfolio covering more than 65 therapeutic areas and continuously invests in media, commercial and marketing campaigns to promote its products.