Letter to the shareholders
With the completion of the most successful year after the crisis, we welcome the 85th anniversary of Sopharma AD, this is a reason to strive to become even better in the care for people's health, to affirm the tradition in the production of quality Bulgarian medicines following international recognized standards and technologies and continue to develop as a Group of companies in the healthcare sector.
The excellent financial results we have achieved over the past year give us security and allow us to make ambitious plans for the future because we see that we are moving in the right direction. Our sales on the Russian and Ukrainian markets have stabilized not only for macroeconomic reasons but also due to the changes in the team and work organization we made at the beginning of the year. As a result, we have achieved 20% growth on export markets. In Bulgaria, we are still expecting the reform in the sector that will allow us to truly develop, but despite the circumstances, our sales have increased by 3%. We finalized the merger of “Medica” AD into “Sopharma” AD and in the meantime we received the approval of the Financial Supervision Commission to merge another of our subsidiaries the pharmaceutical producer – “Unipharm” AD. Consolidation in the Group leads to cost optimization, better organization, centralization of major marketing and sales activities, and better performance across markets.
In 2018, we expect the next phase of Tabex's US registration conducted by our partner Achieve Lifesciences, namely Phase 3, to be launched. After its completion, we will have greater clarity about the prospects of the project.
I want to thank you again for your trust and support!
Chairman of the Board of Directors and Executive Director of Sopharma AD
Key Financial Results
|Deprecation and amortization (EBITDA)||85,944||73,656||16.7%|
|Operating profit/Sales revenue||5.5%||5.1%|
|Net profit/Sales revenue||4.5%||6.3%|
|Net debt/EBITDA, annualized||3.0x||2.8x|
2017 starts with good news concerning the registration and further development of our product Tabex
Medica AD and Sopharma AD signed a contract for transformation through merger
Sopharma AD announces that the Competition Council of The Republic of Moldova allows the acquisition of over 51% of RAP Pharma International SRL by Sopharma AD
Sopharma AD and Medica AD signed an annex to the Contract for transformation through merger reflecting the comments by the FSC
Sopharma AD acquired 51% of the Moldova pharmaceutical distributor RAP Pharma International
The Financial Supervision Commission approved the Contract for transformation through merger and the additional annex to it between Sopharma AD and Medica AD
AGM of Sopharma AD
Sopharma AD acquired 75% from the capital of the successful start-up for development and registration of food additives Aromania
The transformation through merger of Medica AD in Sopharma AD has been registered with the Commercial Register
Unipharm AD and Sopharma AD signed a contract for transformation through merger
Annual Meeting with Investors
Sopharma AD received two notifications from Rompharm Company OOD for the sale of shares from the capital of the company
Sopharma AD received an approval from the FSC of the contract for transformation through merger of Unipharm AD in Sopharma AD
New Development and Products
with marketing authorizations for the period January - December 2017. Marketing authorizations for three new products have been issued.
Amlodipine tablets 5 mg
Amlodipine tablets 10 mg
Expected in 2018
Three to six new products are expected to be introduced by the end of the 2018.
Over 30 production processes and technologies are in the processes of transfer, validation and optimization. Pharmaceutical development is carried out of 4 new medicinal products and one active substance.