Zentiva: Sales down 1.7% in 2008

Zentiva’s net sales declined by 1.7% to 1,681.1 million Czech korunas in 2008, in the context of leu’s depreciation versus the Czech currency.

In local currency terms, Zentiva’s net pharmaceutical sales increased by 20.1% during 2008, up to 287 million lei, compared to 239 million lei recorded a year earlier. In the fourth quarter the sales expressed in lei increased by 91.8%.

The largest contributors to Zentiva’s net pharmaceutical sales in Romania were the local brands, such as Algocalmin, Antinevralgic, Extraveral and Modafen.

The Romanian commercial team headcount declined by 14% to 167 at the end of 2008 vs. 195 at the end of 2007.

In 2008, two new drugs were introduced, the female drug Risendros (risendronate) and the cardiovascular drug Agen (amlodipine).

Zentiva Bucharest, the local upstream division reported 23.18 mln lei net profit, roughly 5-fold higher than in 2007, while the turnover climbed 12%, up to to 218.5 mln lei.

Globally, the drug company registered 10.2% increase in sales, up to 18.38 bln Czech korunas, best performance in Turkey, Russia, Ukraine or Bulgaria.

The manufacturer marked 948 mln Czech korunas net profit, down 32.9% from prior year.

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