Tchaikapharma High Quality Medicines is one of the fastest-growing Bulgarian pharmaceutical companies, producing generic medicinal products. Its revenues at the end of the third quarter amounted to BGN 47.94 million, compared to BGN 40.41 million a year earlier. The company’s net profit reached BGN 6.6 million, marking an annual increase of 51.89%, according to the figures in its interim financial report.

Tchaikapharma High Quality Medicines is one of the fastest-growing Bulgarian pharmaceutical companies, producing generic medicinal products. Its revenues at the end of the third quarter amounted to BGN 47.94 million, compared to BGN 40.41 million a year earlier. The company’s net profit reached BGN 6.6 million, marking an annual increase of 51.89%, according to the figures in its interim financial report.

Tablets hold the largest share of sales, generating BGN 36.88 million in revenue, followed by vials and ampoules.

The company has invested in the purchase of a machine for visual inspection of each vial, aimed at optimizing the production process and accelerating product release. The installation at the company’s Varna plant has been completed, and the machine has been put into operation.

Operating expenses have also increased — reaching BGN 40.55 million, compared to BGN 35.64 million for the same nine-month period last year. The largest expenses were for materials and external services. Wage costs rose to BGN 6.63 million, up from BGN 5.59 million a year earlier.

The company’s main business activities currently include production, primary and secondary packaging, marketing and promotion of pharmaceuticals, and research and development.

At present, the company’s factories manufacture over 160 medicinal products and eight dietary supplements.

In September, the pharmaceutical company increased its share capital from BGN 91,800,000 to BGN 95,900,000 using own funds. The new ordinary, registered, dematerialized voting shares with a nominal value of BGN 1 each have been traded on the Bulgarian Stock Exchange since September 26.

Over the past twelve months, the company’s shares on the BSE have risen to BGN 17.90 per share, bringing its market capitalization to BGN 1,716,610,000 – making it the second-largest public company on the Bulgarian Stock Exchange – Sofia.