Zentiva: profit up 7% at 12 mln euro business in Q1

Drug producer Zentiva Romania (SCD) hiked profit 7 percent year-on-year to 6.13 million lei (1.44 million euros), as turnover rose by one third, NewsIn informs.
Business reached 51.47 million lei in the first quarter, up from 38.91 million lei in the same period of 2008.

Revenues advanced 20 percent in the first three months year-on-year to 57.92 million lei and spending book enhanced 23 percent to 50.57 million lei in the same period.

Zentiva anticipates a gross profit down by one third to 20.6 million lei this year on 2008 and business is expected to rise 3.2 percent.

The company has a share capital of 41.69 million lei and a capitalization of 200.14 million lei, according to the 0.48 lei per share quota settled during today's bourse session. Shares are traded on the second tier of the Bucharest Stock Exchange under the SCD symbol.

The Czech group Zentiva is the fourth biggest producer of generic pharmaceutical products in Europe, with a market value of approximately 2.4 billion U.S. dollars. The French group Sanofi-Aventis announced last month it would take over 94 percent of the Zentiva capital.

Zentiva took over local medicine producer Sicomed, a company dating from 1962.

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