ZAGREB, May 8 (Hina) - In the first three months of this year, Croatia's pharmaceutical company Pliva earned US$57.1 million net, a 36.1% increase from the same period last year, the company's director, Zeljko Covic, told reporters
Thursday.
ZAGREB, May 8 (Hina) - In the first three months of this year,
Croatia's pharmaceutical company Pliva earned US$57.1 million net,
a 36.1% increase from the same period last year, the company's
director, Zeljko Covic, told reporters Thursday. #L#
Covic said Pliva's dealings in this year's first quarter were
successful and results indicated Pliva was following its strategy -
- expansion to new markets and transformation into a global
company.
Total profits gained 49.5% in the first quarter, reaching $270.6
million thanks to a strong increase in the sale of prescription
drugs by 81.9% to $154.1 million.
Looking at markets, most earnings were made in North America, i.e.
$125.8 million, up 105.8 pct, primarily thanks to the acquisition
of the Sidmak company. Profits in Central and East Europe grew 14.1%
to $101.6 million, while in West Europe Pliva made gains of $40.5
million, which is an increase of 37.4 percent.
Pliva's investments in the first quarter of 2003 totalled $28.7
million, of which $9.9 million into the acquisition of a Spanish
company, EDIGEN, in January. Capital investments totalled $18.8
million.
Expectations for this year include increased profits in dollars by
more than 15 percent. Between ten and eleven percent of overall
earnings will be invested into research and development, Covic
said.
He announced that Asia was on the agenda after 2003. A team will be
set up which will research the market.
A project called "New Pliva", which started recently, is intended
to reshape Pliva into a globally integrated pharmaceutical
company. The project will be completed by the middle of next year.
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