September 7 (SeeNews) - North Macedonia's biggest pharmaceutical company Alkaloid [MSE:ALK] is launching a wholly-owned subsidiary in Romania, expanding its footprint in the European Union, it said on Wednesday.
Alkaloid registered the new company under the name Alkaloid Bucharest S.R.L. with a founding capital of 100,000 euro ($99,106), it said in a bourse filing.
Alkaloid is present in Romania through a variety of pharmaceutical products. The company reported 212.5 million denars ($3.42 million/3.45 million euro) of sales on the Romanian market for 2021. In the first half of 2022, the market saw a 140% rise in sales, according to the statement.
Alkaloid has two subsidiaries in North Macedonia and 18 subsidiaries and two representative offices abroad - in Serbia, Montenegro, Kosovo, Albania, Bosnia and Herzegovina, Croatia, Slovenia, Switzerland, Bulgaria, Turkey, Ukraine, Russia, the U.S. and the UK.
The company’s shares traded at an average price of 16,799 denars on the MSE on Tuesday, according to the latest bourse data available.
(1 euro = 61.51 denars)