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 Zentiva's turnover rises 6.5 pct in Q1


Pharmaceutical company Zentiva recorded a turnover of 163 million lei in the first quarter, by 6.5 percent higher YoY, shows the company's quarterly report sent on Monday to the Bucharest Stock Exchange.

The Q1 operating profit was 31.2 million lei, down 21.4 percent from the similar period of 2020, and the net profit declined 30.7 percent to 23.63 million lei.

The company's assets totaled one billion lei as of March 31, 2021 and its debts stood at 198.66 million lei (of which 175.7 million lei in current debts).

The initial Bucharest Medicines Plant (IMB) founded in 1962 changed name to Sicomed in 1998 and then to Zentiva SA in January 2006. In March 2009, Sanofi Aventis acquired 97 percent of the Zentiva NV stake. At the end of October 2016, Sanofi announced the initiation of a carve-out process to divest its European generics drugs business. Zentiva SA was included in this carve-out process, which was completed on September 30, 2018, when Advent International NV acquired Zentiva SA, Sanofi's European generics division.