Sanitas enjoys 19% group sales growth in Poland in H1 2010

2010-08-25

Sanitas, the Lithuanian drug maker, reported a solid improvement in sales revenues in Poland in the first quarter of the year.
The company, which owns Jelfa and Homeofarm, generated group sales of LTL 87.7m (€25.4m) from its Polish operations in H1, an increase of 19% in comparison with the same period of 2009. Of this, own product sales contributed more than LTL 87m (€25.2m), up by 21% y-o-y. The highest growth of own product sales came in the first quarter of 2010, when the Group saw significantly higher demand compared with 2009. The second quarter of 2010 showed slightly lower sales (4%) year on year as a result of an additional decrease in inventory held by its distributors. Contract manufacturing of pharmaceutical products brought in LTL 0.6m (€0.17m) in H1 2010, down by 65.3% y-o-y.
Poland is by far the biggest market for Sanitas Group. In H1, Polish revenues accounted for more than 49.5% of the group's total sales. By way of comparison, Russia, its second-largest market, contributed LTL 25.2m (€7.3m) in H1 revenues, up by 46.5% y-o-y.