Bioton sees loss in H1
Revenues for H1 reached zł.165.8 million and a net loss of zł.12 million was incurred.
Total sales of insulin, Bioton's key product, brought zł.53 million in revenues, a 10-percent drop compared to the same period in 2007. The company accounted for this drop, explaining that it had decided to postpone exports to high-profit-margin markets, such as Russia, until H2 2008.
Another key product for Bioton, antibiotics, saw 6.4-percent y/y growth, bringing in revenues of zł.43.1 million in H1. But the firm's total sales margin in Q2 was six percent lower than in Q2 2007.
Bioton also suffered increased operational costs following the integration of SciGen, BioPartners and two Italian acquisitions into its group structure.
Despite the losses, the company systematically strengthened its position in the domestic insulin market. This strategy will be pursued over the rest of the year, Adam Wilczęga, the company's president said.
Bioton's plans include increasing sales and market share for analogous insulin in both the Polish and global markets. It also wants to continue R&D work, complete insulin registration procedures in China and launch sales there. The firm will also continue construction of its production plant in China and focus on developing its M.J. Bioton Life Sciences subsidiary.
