Sales of Bulgaria's drugmaker Sopharma fall 17% y/y in January 2012.

By bne IntelliNews February 3, 2012
The sales revenue of leading local pharmaceutical producer Sopharma decreased by 17% y/y in January, including 9% y/y exports decline and 37% y/y contraction of the domestic market sales, the company said in a note, posted on the website of the local stock exchange. The company explains the results with the unfavourable weather conditions. The non-consolidated total revenues of Sopharma increased by 2.8% to BGN 245.1mn (EUR 125.3mn) in 2011, including sales growth of 1.5% y/y to more than 94% of total revenues. Domestic sales (up by 3.4% y/y) accounted for 31.2% of all sales as compared to 30.2% in 2010. Exports sales declined by 0.9% y/y. The net non-consolidated profit of the company added 0.3% y/y to BGN 40.7mn (EUR 20.8mn) last year. Sopharma said that the economic and political problems in Europe, the echo of the economic crisis and some administrative issues have reduced the growth rate last year.
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