Bionic exports

Insulin and antibiotics producer Bioton is maintaining its financial prognosis for 2006 of gross profits reaching a nine-digit figure, but the CEO added that in "favorable circumstances" net profits could also exceed zł.100 million.

"We are an exporter, so the dollar exchange rate is an important factor for us. But if the exchange rate improves in the second half of this year, then it is a realistic assumption," says Adam Wilczęga, CEO of Bioton.

Exports account for some 25 percent of Bioton's revenues, but according to Wilczęga, the share could increase to 40 percent by the end of this year. In H2 2006, Bioton expects a boost in revenues after the launch of its insulin exports to the Russian market in September, which would bring the company sales of around $20 (zł.61) million by the end of the year.

"The process of registration has already been completed and the positive decision taken but we still have to wait for an official certificate to start exporting," Wilczęga said.

The company also wants to increase its stake in the biggest Ukrainian insulin producer, Indar, to 51 percent. Bioton already holds 21 percent of Indar's shares and is hoping to soon gain control over the company. In the autumn, the construction of Bioton's factory in China will start, along with the insulin registration process for that market.

Wilczęga is also optimistic about the company's sales in Poland. At the moment Bioton is the second-largest insulin producer and distributor after Novo Nordisk with a 26-percent share in the market.

"We will have a 28-percent share in the Polish market by the end of this year. But 30 percent is an even nicer, round figure and I believe it's feasible," Wilczęga said. He also added that Bioton's share in the global insulin market would exceed two percent in 2006.