Bulgarian Giant Sopharma's Export Grows by 40% in 2010 H1

The export of Bulgaria's largest pharmaceutical company Sopharma has seen a substantial growth of 38% in the first half of 2010.

Only in June 2010, the company's exports grew by 66% compared to the same month of 2009, it has announced.

Sopharma's total sales have grown by 42% in June, with a 2% increase of the sales on the Bulgarian market.

The total sales for the first six months of 2010 grew by 23% year-on-year., with the sales on the Bulgarian market retaining their level from the first half of 2009.

During their meeting in June 2010, the shareholders of Sopharma decided to buy back the company shares, and against allocating dividends because of the economic uncertainty.

The Bulgarian pharmaceutical giant Sopharma is responsible for the overwhelming share of the combined turnover of Bulgarian pharmaceutical producers. Its sales in the first quarter amounted to BGN 138.6 M, a 22% increase compared to the same period of 2009. Its profit increased by 31% year-on-year, reaching BGN 12.7 M, with the revenue from exports to Ukraine growing 2.5 times, and to Turkey – twofold. Its export to Central Asia and the Caucasus grew by 9%, to the USA – by 23%, and to Singapore – by 5%.