Globalising insulin

Bioton SA group's Q3 sales revenues reached zł.34.3 million with its net income amounting to zł.4.2 million. After the first three quarters of 2005 Bioton's net income grew to zł.13 million as compared to zł.8.7 million in the same period last year.

"Our Q3 results confirm the stable and dynamic growth of insulin and antibiotics sales in 2005. It means that our expansion in Poland and abroad translated into good financial results," said Adam Wilczęga, CEO of Bioton SA. The company also signed an agreement to purchase 18.27 percent of SciGen's shares. "Thanks to this transaction Bioton's position on the Asian markets is going to be strengthened considerably," Wilczęga added.

Bioton SA now controls 44.78 percent of the Singapore-based company and through its intermediary will sell its human insulin - registered as Gensulin - in India, Vietnam, Pakistan, and the Philippines.

Apart from Asia, Bioton is also planning further expansion in the former Soviet Union and the CEE region.

"We're also preparing a new investment in Macierzyce. It's going to be funded with EU subsidies for competitiveness enhancement and we've already discussed our plans with the Economy Ministry," Wilczęga said.

The company expects that its share in the human-insulin market in Poland will reach 19 percent in October this year with 65,000 packets of Gensulin sold.