Croatian Pharmaceutical Companies Increase Profit and Revenue in 2020

By 29 August 2021

August the 29th, 2021 - Croatian pharmaceutical companies rather unsurprisingly did better than the vast majority of other sectors in pandemic-dominated 2020, raising their profit and revenue considerably.

As Marina Klepo/Novac writes, out of 364 Croatian pharmaceutical companies currently in operation, 339 of them ended the dire year of 2020 with a profit, increasing it by 9.3 percent compared to 2019, to a total of 285.4 million kuna. The figures are far from surprising considering the global public health crisis which broke out in the spring of that year.

According to Fina's data on the matter, total pharmacy revenues rose by 10.9 percent to 8 billion kuna at the same time. With the growth of the workload for Croatian pharmaceutical companies throughout 2020, this activity slightly increased its number of employees, to 78 of them, meaning that there was a total of 5751 in the industry.

The list of Croatian phaemaceutical companies is led by Zagreb's Prima Pharma Pharmacies, which last year had a revenue of 413 million kuna, their profit amounted to 13.8 million kuna, and they have 317 employees.

They are followed by Gradska ljekarna Zagreb with revenue of 367.2 million kuna and a profit of 12.3 million kuna, and Farmacia from Zagreb enjoyed 358.7 million kuna in revenue and 7.7 million kuna in profit.

The ''top five group'' also includes the Split-Dalmatia County Pharmacies and the Zagreb Joukhadar Pharmacies. These top five pharmacies from the ranking list for the year 2020 account for 21.4 percent of the total revenues generated by all 364 Croatian pharmaceutical companies. They employ 1363 workers in total, or 23.7 percent of the total number of employees in this industry, and the share of profit is  slightly lower. Together, they reported 50.1 million kuna in profit.

Although last year was successful for most operating within this industry, losses were recorded by 25 Croatian pharmaceutical companies, four more than the year before. When looking at the pharmacy business over a five-year period, from 2016 to 2020, Fina's data shows that there are now 39 fewer such enterprises currently on the market, with the number having dropped from 403 to 364 or 9.7 percent. At the same time, the number of employees increased by 276 or five percent, from 5,475 to 5,751. The average monthly net salary, on the other hand, increased by 15.7 percent, from 6,947 kuna back in 2016 to 8,040 kuna in 2020.

According to Fina, this is 34.7 percent more than the average monthly net salary in the Republic of Croatia.

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