Pharmena revenue drops

Listed on the alternative, small-cap market, pharmaceutical, Pharmena, had PLN 1.74 million net profit in 2016, a drop from PLN 2.7 million in 2015. Revenue from sales amounted to PLN 17 million (PLN 18.4 million in 2015), the company said in its financial report. "The decrease stems, from lower sales in Q1. One of the sales contract with foreign partner also fell through in Q3," Pharmena's CEO Konrad Palka said. "Last few months have seen improvement however," he added. "We've signed new export contracts in Q4 and there more on the horizon," he explained. The company plans to introduce new diet supplement in H2.