Manufacturers of basic pharmaceutical products in Serbia recorded strong financial results in 2024, with the sector posting solid revenue growth and rising profitability despite relatively modest increases in production volumes. Total revenues across the segment reached approximately €11.3 million, while combined net profits amounted to around €1.4 million, confirming continued financial strengthening compared with the previous year.
The standout performer was Medico Domus d.o.o. from Niš, which emerged as the most profitable company in the category. The company reported a net profit of roughly €860,000, significantly outperforming its peers. Its revenues grew steadily over recent years, rising from about €2.8 million in 2022 to approximately €4.3 million in 2024, reflecting both expanding demand for its products and effective cost management.
Second place in terms of profitability was taken by Zorka Pharma-Hemija d.o.o. from Šabac, which achieved a net profit of around €525,000. Other producers in the sector, including companies based in Vršac and other regional centres, also reported positive results, although at lower absolute levels.
The data point to a broader trend within Serbia’s pharmaceutical industry, where smaller and specialised manufacturers are increasingly focusing on higher-margin product niches such as dietary supplements and basic therapeutic preparations. Despite pressures from raw material prices and supply chain volatility, these firms have managed to improve operational efficiency and expand employment, with sector-wide workforce numbers increasing by close to 10 percent year on year.
While large pharmaceutical groups continue to dominate Serbia’s export volumes and overall production value, the strong results of smaller domestic producers highlight a diversification of the industry and growing regional demand for specialised pharmaceutical products.
