Monday, October 17, 2016 - 10:09
Hardly 2017 will be the revolutionary year for Sopharma, but this may happen in 2018 – on original, Bulgarian molecule from Sopharma will be released on the global market. This is what we are working for and what would entirely change the image of our company. Everything else is an extensive development. This was said by Ognian Donev, the CEO of Sopharma, in an interview for Investor.bg, broadcasted on Bloomberg TV Bulgaria.
“I hope we can carry out some acquisitions. We are negotiating constantly for potential acquisition targets and we already managed to inform BSE about our inquiry toward the antimonopoly commission in Moldova regarding the acquisition of a company there.”
On doubts regarding the sustainability of growth in revenues from sales of products, expressed to the shareholders by the Executive Director of Sopharma Donev said:
"The macro environment in the markets in which Sopharma operates is not such so that we know for sure that improved results are a lasting trend. Both in Russia and in Ukraine devaluation of the local currency leads to unexpected collapses in sales. Better retention of relatively stable exchange rate of the local currency against the euro leads to soothing the consumers and convening with the price levels of the products we sell, and this leads to an increase in sales.
On the other hand, we have a competitive advantage from the devaluation of the currencies of the countries of the former Soviet Union because as customer demand decreases, it is directed precisely towards cheaper products and we are right in this price segment."
The company’s ambition for Serbia is to reach a market share like our merchant Sopharma Trading has in Bulgaria, and that is 22-23%, said Donev.