Romanian pharmaceutical producer Antibiotice Iasi will not be privatized and is an example that there are state-owned units "that work very well,” according to the Romanian Prime Minister Victor Ponta.

The Romanian PM visited Antibiotice on Saturday morning, together with Health Minister Nicolae Banicioiu, Labour Minister Rovana Plumb, and the Mayor of Iasi Gheorghe Nichita, according to local Mediafax.

During the visit, he said that the company will not be privatized, and Antibiotice’s profit could be reinvested in the coming years in upgrading the unit.

Antibiotice ended the first quarter with sales revenues of RON 60.5 million (EUR 13.4 million), up 2 percent year-on-year, and a net profit of RON 5.2 million (EUR 1.1 million), slightly up from the one posted the year before.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Gov.ro)