Sandoz set to inject 7m euros into Mureş drug plants
Sandoz pharmaceutical company, which owns two production facilities in Târgu Mureş, will invest 7m euros in its Romanian plants next year, after this year's investment budget amounted to 10m RON (2.3m euros).
"We're making further investments despite the recession to
achieve a strong position when the crisis fades away. At present,
our plans, which have been submitted to European executives for
approval entail capital investments. Our shareholder (Sandoz is
part of Novartis i.e.) has already operated a 70m RON (16.7m euros)
capital increase in October to secure the funds to carry out these
investments in the following years," said Akos Balogh, CFO of
Sandoz Pharma Services SRL.
For 2010, the company has budgeted sales worth almost 300m RON
(71.4m euros) and its turnover topped 200m euros after the first
nine months.
"Sales advanced at a two-digit pace, as we expanded our market
share, and the market is also rising, but is starting from a very
low base," Balogh added.
The company's drug exports amounted to 30m RON (7.1m euros) in the
first three quarters, up 5%.