Antibiotice Iasi exports surge 72%

Exports of finished products increased almost five times (388 percent), while those of raw materials (active substance in the drugs) rose 5.3 percent. The company estimates exports worth $10 mln (€6.46 mln) in 2008, some 30 percent higher year-on-year.

Antibiotice Iasi is one of the most important active substance producers worldwide. The drug maker is controlled by the State Asset Recovery Authority (AVAS), and its privatization has been postponed repeatedly, the last time in March 2008. According to Cegedim market research company, Antibiotice Iasi was the 9th largest producer of pharmaceuticals in 2007, with a 3.2 percent market share. Its turnover in 2007 was €68 mln.