Galenika pharmaceutical company said its new business strategy has resulted in a significant increase in market share in domestic and foreign markets, expansion of its portfolio and increased production.
– In 2019, there was a significant shift from fourth to second place in terms of market share in Serbia, the portfolio for eight products was expanded, and the production of our own product range increased by 32% compared to 2018 – the statement said.
Galenika, it is added, will be the holder of licenses for its products on EU territory for the first time since 2020. In addition to sales growth in the region by 39% (Montenegro, Bosnia and Herzegovina, Northern Macedonia), sales in international markets outside the region doubled relative to contracted jobs in 2018. In 2020, sales in international markets outside the region are expected to increase 100%.
Galenika announces that in 2019, the company’s portfolio expanded to include 8 more products, in product groups used in cardiovascular and hypertension, diabetes, antidepressants, antivirals and dermatics.
It is also stated that “in accordance with its mission, applying the latest knowledge in the field of pharmaceutical technology, Galenika has continued its development activities within its Institute for Research and Development”, and that after eight years a new product was launched – Flonivine plus. After that, another product from the category of dietary supplements was successfully developed, with production and launch expected in early 2020.
– We are finishing this year with a fulfilled goal, which is a high second position in the market of pharmaceutical companies in Serbia, in terms of market share. We are proud of the multiple results achieved this year, the significant growth and development achieved, the people and brand we believe in. The investments made so far are only the beginning on our decisive path forward, and in the next three years Galenika plans to grow sales, further develop the team and introduce innovations in the Serbian market – said Ricardo Vian Marques, Chief Operating Officer of Galenika.
