Drug maker Terapia is planning to expand its activities on foreign markets this year.
"Following the solid results last year on the Russian market, where the company sells around 11% of its products, Terapia also wants to strengthen its presence on the Polish market", Stephen Stead, the company's general manager, told Ziarul Financiar.
To help achieve this, the Cluj-based company has already hired a direct representative in Poland to coordinate and run marketing activities.
The company opened offices in Russia in 2002 and in Ukraine in 2003. It entered the Polish market last year.
Faringosept is still Terapia's most popular product and will be promoted in Poland through strong advertising campaigns.
A recent market survey by the company in Moscow shows that from 100 persons questioned, more than 80 had heard of Faringosept and some 75 were buyers of the product.
"On this market Faringosept is a leader in terms of number of units sold and has a market share of 33%. It is ranked second in terms of value," added Stead.
The structure of Terapia's sales for 2004 in terms of market of destination point to a gradual expansion on the markets of the former Soviet Union and countries around Romania, particularly Ukraine and Poland.
Company representatives estimate that the products launched on the market over recent years will generate sales of over 10 million euros in 2005.
Terapia's management announced that total planned investments would exceed 4.6 million euros this year alone. The money will be used to align the chemical production platform with the proper environmental standards and to expand the bio-equivalence lab.
Terapia representatives explained the need to run this project in terms of the alignment of the product portfolio with the industrial platform.
Development operations include the construction of a portal type hall-warehouse and a portal type metallic hall comprising rooms for the pharmaceuticals packing section.
For consultancy and project implementation Terapia hired the Dutch company DHV Water& Environment.
Two Romanian firms have also been brought in on the project: Minesa and Enviro Asist of Bucharest. Terapia's management estimates that the programme will last at least three years.
Terapia SA reported turnover for 2004 in the region of 40 million euros, accounting for a real term increase of 25% on 2003.
Growth in the region of 25% has been forecast for this year.
Terapia is held by US financial group Advent International that acquired 95% in it in 2003, following an over 40 million euro deal.
transilvania@zf.ro
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