PLIVA EARNS US108 MILLION OF NET PROFIT IN 1999

ZAGREB, March 25 (Hina) - Croatia's leading pharmaceutical company Pliva d.d. expects further growth in 2000, primarily on international markets where in the course of 1999 it realised 65.5 percent of its total income earnings, which amounted to 4.18 billion kuna (US$522 million). At the same time, the company realised a net profit of 869 million kuna (US$108.6 million), Pliva director Zeljko Covic told a press conference in Zagreb on Saturday. Pliva is currently testing two new substances and these tests could lead to the discovery of two new important drugs, Covic added. The company's total income earnings in 1999 amounted to 4.18 billion kuna, which is a 16.9 percent increase in comparison to the year before, expressed in kunas, and a 10.1 percent increase expressed in Euros. The net profit (869 million kuna) increased by 26.2 percent in relation to the year before, expressed in kunas, whereas the increase rate expressed in Euros was 18.8 percent. The company continued the process of its internationalisation by acquiring pharmaceutical companies Farmacom, Mixis Genetics and Lacheme, into which it invested a total of 993 million kuna. Investments into research and development last year amounted to 221 million kuna or 50 percent more than the year before. Two company projects have entered the final stage of pre-clinical testing and the company may be on the threshold of discovering two new drugs. One of them would be used before cytostatic treatment, which is applied when the human body stops producing platelets, and the drug will be clinically tested in the United States. The other drug would be used in the treatment of inflammatory processes in the digestive tract, for which there are no completely suitable drugs on the market. Tests on this substance will be carried out at a European clinic. Pliva is to launch 33 new generic drugs on central and east European markets by the year 2003. (hina) rml