Pharmena posts 23.5% sales growth in H1 2010

2010-09-08

Pharmena, the NewConnect-listed maker of innovative drugs and dermocosmetics, enjoyed a nearly 23.5% y-o-y jump in sales revenues in the first half of the year, to just above PLN 3.5m (€0.87m), the company said in its half-yearly report. At the same time, net profit plunged by nearly 72% y-o-y to PLN 0.18m (€0.04m), due to high costs of a marketing campaign organised for its Allerco line of emollients. Other notable costs were related to the patents which company acquired and charges for advisory on contracts with Dermen North America (a subsidiary company of Pharmena) and Cortria Corporation (Pharmena’s portfolio company). The company expects that the investments will have a significant positive effect on sales going forward.