EximBank and Antibiotice have concluded a 60 Mln Lei financial agreement
Bucharest, July 02 2013 – EximBank and Antibiotice SA, one of the top players on pharmaceutical market, have concluded a financial agreement amounting at 60 Mln Lei to be used for financing the current activity of the company in order to reach its business targets: increase production activity and sales, especially for export volumes.
“The partnership that we have concluded with Antibiotice proves our business strategic direction right when offering to the corporate segment a products and services portfolio at competitive prices level and attractive for the companies seeking business development solutions for medium and long term. Antibiotice is a Romanian company with almost 60 years’ experience on the pharmaceutical market and we are convinced that through the granted facilities we will contribute to supporting the positive trend of the company both on local and international markets.” declared Traian Halalai, President of EximBank.
The financial package will be used by the pharmaceutical company to finance its current activity as well as re-finance a credit contracted form another commercial bank.
”We want to achieve business growth and be competitive and this is not a simple aspiration. We base our intention on a solid business plan having as main directions the continuous process of adapting our product portfolio along with reducing operational costs and most important of all, increase our international presence. Along with our business plan we have valuable partners, such as EximBank that are able to support our efforts of reaching the business targets in terms of profits and turnover.” said Ioan Nani, General Manager of Antibiotice.
The company is one of the most important Romanian exporters of pharmaceutical deliverables and Nystatin (first producer in the world for this active substance) estimating a 20% growth of export sales as compared to 2012 considering the expansion of the partnerships on USA market and other states as well. The estimated value of exports for this year amounts at 24 Mln USD out of which almost 5 Mln USD represents sales volumes for the USA market.
”EximBank clients have some key features: they are Romanian companies with a long experience and through their businesses they critically influence the communities where located, supporting the development of the regions where they base their operations. Antibiotice fits perfectly this profile and has another important strength – it is one of the top exporting companies in Romania. We want to support the operation of as many exporters as possible and I want to reassure them that EximBank is looking with high interest at this important sector of the Romanian economy”, added Traian Halalai, President of the bank.
EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absorption of EU funds.
The bank is offering to exporters a complex financial instruments package supporting the business development and the mitigation of the risks associated to export activities.
EximBank supports the export activity through the whole chain from production phase, delivery and cashing of the value of exported goods by offering to the market products such as:
financing (covering goods production and delivery costs);
insurance for export credits or for buyer credits;
commercial information on the business partners.
The Bank has a network of 15 units in Bucharest, Bacau, Brasov, Buzau, Constanta, Cluj, Craiova, Deva, Galati, Iasi, Oradea, Pitesti, Ploiesti, Timisoara and Sibiu; also, interested companies may access additional information on www.eximbank.ro.
With 58 years tradition on the pharmaceutical market and a complex product portfolio Antibiotice is one of the long lasting local pharmaceutical brands and an important drug exporter.
On Romanian market, Antibiotice offers 145 pharmaceutical products from 13 therapeutic classes being singled out by the fact that is the most important manufacturer of anti-infective and the sole manufacturer of biosynthesis based active substances. Also, Antibiotice ranks 4 out of the 254 drug manufacturers active on Romanian market of generics and OTC, having a market share of 6,6% (as per Cegedim).
On external market, Antibiotice is building business relationships with more than 120 partners in 60 countries being the leading manufacturer for Nystatin.
The company located in Iasi had a 304, 7 Mln Lei turnover and a net profit of 27, 1 Mln Lei at the end of 2012. Antibiotice is a Romanian pharmaceutical company with mixed capital, the main shareholder being the Romanian Ministry of Health that owns 53% of the company’ shares. More details at: www.antibiotice.ro