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Pliva's future is generic medicines - CEO

ZAGREB, June 14 (Hina) - The manufacturing and launching of genericmedicines will be the basis of Pliva's business strategy in thefuture, CEO Zeljko Covic said at a general assembly of the drugscompany's shareholders on Tuesday.
ZAGREB, June 14 (Hina) - The manufacturing and launching of generic medicines will be the basis of Pliva's business strategy in the future, CEO Zeljko Covic said at a general assembly of the drugs company's shareholders on Tuesday.

Pliva wrapped up the fiscal year 2004 with US$129.28 million in net profits, down 12 per cent from 2003.

Covic said the management board's objective was to have Pliva make $1 billion in turnover from sales of generic medicines alone.

Speaking of business in 2004, Covic said it was characterised by strong unfavourable influences such as pressures to cut the prices of medicines on all major Pliva markets, the negative kuna-dollar trends, and lower revenue from royalties.

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