PRO.MED.CS Sees Turnover Drop – Net Profits RiseČTK
Prague, Dec 10 (CTK) – PRO.MED.CS Praha company saw its 2016 net profit rise by more than a half to Kc421.1m, while its revenue from business operations posted an annual decline of 9.6 percent to Kc2.05bn, according to data in the Register of Companies.
More than 81 percent of its revenue was generated abroad.
PRO.MED.CS Praha is a leading Czech independent pharmaceutical company with its own scientific-research base for the development of medicines for human use. It specialises in the production of tablets, coated tablets and capsules with a daily production exceeding two million units. The company’s portfolio primarily covers the fields of gastrointestinal, cardiovascular and musculoskeletal medicines.
PRO.MED.CS Praha exports its products to more than 25 countries, especially to the Russian Federation and countries of Central and Eastern Europe and Central Asia. In recent years it has also been asserting its position on West European markets.
A contract with Russian company ZiO Zdorovie was signed during President Milos Zeman’s visit to Russia in November.
PRO.MED.CS Praha head for the Russian market Jiri Musialek said the contract will help boost the production capacity.
The Russian company will be producing 70 percent of PRO.MED.CS products for the local market, which can be volumes worth Kc1.3bn a year in a couple of years, Musialek said.