“The reason for business growth is better mobilization on the market, amid higher demand. The consumption of drugs in Romania is only one third of that in countries such as Hungary, the Czech Republic, and Slovakia,” the company’s President and General Manager, Ovidiu Buluc, told Business Standard. Romanians spend €95 per capita annually on pharmaceutical products, while consumption amounts to €270 in the aforementioned countries, he said.
The company’s strategy is to register higher turnover. “We had high turnover by sacrificing profit,” he said. Due to the fact that prices of drugs, controlled by the government, were not adjusted to inflation and there were variations in the exchange rate, losses amounted to €1.7 million, Buluc added.
Under these circumstances, the company decided not to expand its storage facility in Bucharest, as previously planned. Meanwhile, Farmexim has finalized an investment in the central city of Brasov, and is focusing on a new storage facility in the western city of Timisoara, estimated at €1 million.
Farmexim’s main competitors are Mediplus, Fildas, Farmexpert, Relad and Polisano.
