"It is very unpleasant for a Romanian entrepreneur to go totheir partner ashamed that they are unable to pay their bills ontime," says Anca Vlad, who controls an over 200 million-eurobusiness on the pharmaceutical market. Anca Vlad, who controls drugdistributor Fildas and drugstore chain Catena, says "it feels likethe business world has never before been as difficult forentrepreneurs," due to the lack of a dialogue with the authorities."Like every October, cash flow issues become overwhelming. Mycolleagues in the financial department only handle negotiations,and extending payment deadlines with the suppliers. We would manageto reach an agreement (with the suppliers. i.e.) if things werepredictable, but under these uncertain times, they are extremelyreserved," said Anca Vlad. Anca Vlad says some of the suppliers aretougher, other are more "trusting", so negotiations don't alwayshave a positive outcome. 'We are trying to show them that it is notour fault we don't get the money in time," she went on to say. Animportant part when it comes to contracts sealed with suppliers isplayed by the country rating, which, according to Fildas officials,can affect the discount and the deadline set. "We are keeping intouch with rating agencies in order to secure their support," Vladsays. Anca Vlad controls one of the biggest businesses in thepharmaceutical industry, with Fildas Trading budgeting an around770 million-RON (183 million-euro) turnover for this year. Lastyear the company posted a 188 million-euro turnover and 12.3million euros in losses, according to data from the FinanceMinistry. The pharmaceutical business is dependent on contractswith the CNSAS (National Health Insurance House), and, according toAnca Vlad, payments are over three months late.
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