Sales of Sanitas down by 5% in Slovakia in H1 2010

2010-08-24

Sanitas, the Lithuanian drug maker, reported a 4.8% y-o-y drop of sales revenues in Slovakia in the first six months of the year.
The company generated sales of LTL 10.14m (€2.9m) from its Slovak operations in H1 2010 Of this, own product sales contributed nearly LTL 2.8m (€0.8m), up by 12% y-o-y, whereas contract manufacturing of pharmaceutical products were worth LTL 7.3m (€2.1m), down 2.3% y-o-y.
As Central Europe Pharma News reported on a previous occasion in July 2010 Sanitas sold its 100% stake in its Slovakian-based subsidiary, HBM Pharma (formerly known as Hoechst-Biotika), to Liplats 2000, a Latvian company.
The subsidiary, which was primarily engaged in toll manufacturing activities, was sold with all of its contracts. As a result of the divestment, the sales, marketing and regulatory divisions in Slovakia and the Czech Republic were separated from HBM Pharma and retained in the Sanitas Group. The sale of the subsidiary was aimed at optimising manufacturing capacity and focusing on Sanitas’ own product portfolio.