Belgrade, December 24, 2019 – The new business strategy of the domestic pharmaceutical company Galenika a.d. Belgrade, resulted in a significant increase in market share in domestic and foreign markets, expansion of the portfolio and increased production in 2019. Galenika achieved a significant shift from fourth to second place in terms of market share in Serbia*, the portfolio for 8 products was expanded, and the production of its own product range increased by 32% compared to 2018.
In 2020, Galenika will be the holder of licenses for its products in the EU. The registration of the second product in the EU has been successfully completed and the registration process for an additional 3 new products is in progress. In addition to 39% growth in sales in the region (Montenegro, Bosnia and Herzegovina, North Macedonia), sales in international markets outside the region have been doubled compared to contracted deals over 2018. Sales in international markets outside the region are expected to double size in 2020.
In 2019, Galenika’s portfolio was expanded to include 8 more products, in product groups used in cardiovascular and hypertension, diabetes, antidepressant, antiviral and dermatological therapy.
The positive results of Galenika’s Research and Development Institute continue. In accordance with its mission, applying the latest knowledge in the field of pharmaceutical technology, Galenika continued its development activities within its R&D Institute, and after 8 years a new product – Flonivin plus – was launched on the market. Following this, another product from the category of dietary supplements was successfully developed, with production and launch expected in early 2020.
“We are ending this year with a fulfilled goal, which is a high second position in the market of pharmaceutical companies in Serbia, according to market share. We are proud of the multiple results achieved this year, the significant growth and development achieved on the people and the brand we trust. 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, Executive Director for Operational Affairs of Galenika.
*IQVIA – leading global company specialized in business research in the pharmaceutical industry