Local generic drug producer Antibiotice Iasi doubled its exports of antibiotics to the US market in the first six months of the year compared to the same period in 2015.

The exports reached USD 3.4 million, according to a note to investors published on the Bucharest Stock Exchange website.

The company delivered six containers with injectable anti-infectives to the US in the first six months of the year. The local producer also managed to complete the authorization procedure on the US market for a new drug at the end of 2015.

Antibiotice’s exports totaled EUR 20.5 million last year, up 7% over 2014. Its profit from exports rose by 45% compared to the previous year.

Antibiotice had a turnover of EUR 74.6 million and a net profit of EUR 6.1 million in 2015. The company is controlled by the Health Ministry, which owns 53% of its shares. Investors on the Bucharest Stock Exchange hold the rest of the shares.

The company has a market capitalization of some EUR 68 million.

editor@romania-insider.com