In 2020, wholesale drug suppliers netted 607 million kuna (€81 million) in profits, or 8.7 percent up year-on-year, state news agency Hina reported on Wednesday, citing data released by the state's Financial Agency.

Last year, Hina said, there were 368 wholesale drug companies registered in Croatia with a total of 3,986 employees. Roughly two thirds (267) operated at a profit while the remaining third (101) posted a loss.

Hina also said that over the five-year period from 2016 to 2020 period, the sector’s total annual revenues increased by 31.2 percent to 16.2 billion kuna (€2.1 billion). However, their expenditures also increased in the same period, by 31.5 percent, to 15.5 billion kuna (€2.07 billion).

As for net profits, 2020 saw them post a total 607 million kuna (€81 million) profit, the highest annual profit in the same period, up by 31.6 percent from 2016, while the lowest net profits were generated in 2017, when they were 426.9 million kuna (€57 million).

In the 2016-20 period, wholesale drug exports fell by 3.5 percent, while imports went up 43.6 percent, and the trade balance was negative, reaching its highest level in 2020, at 5.6 billion kuna (€74 million).

By company, the largest revenue last year was posted by Medika, at 3.9 billion kuna (€520 million), followed by Farmacija, at 2.3 billion kuna (€307 million), and Medical Intertrade, and Oktal Pharma, with 2 billion kuna (€267 million) in revenues each. These four major companies generate 63.1 percent of all revenues in the sector.

In 2020, Medika had also generated the highest profit, at 60.7 million kuna (€8.1 million), followed by Oktal Pharma with 41.3 million (€5.5 million).

(€1 = 7.49 kuna)