In the first half of this year drug manufacturer Biofarm Bucharest posted net income worth 7.5 million RON (2.1 million euros), close to the level reported in the corresponding period of last year. Turnover reached 29.1 million RON (8.2 million euros), up 19.1% compared with the first six months of 2005. The company forecasts profit worth 3.6 million euros for this year, approximately 11% higher year-on-year. The producer last year derived net income worth 3.23 million euros, which will go the share capital increase of the company and to the issuance of new stock to be distributed to shareholders for free. Biofarm has budgeted turnover worth around 17.7 million euros for this year, up 24% from the sales logged in 2005. Last year, the company posted turnover worth around 14 million euros, 54% higher than in 2004. For investments, the company has earmarked a budget of 2.8 million euros. The drug maker was set up in 1990 and has been privately owned since 1997.
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