For the past year the company has reported improved results in its financial performance, introducing new products and entering new markets, as well as advancing in the field of its research and development activities
The Public company Tchaikapharma High Quality Medicines Inc. will hold its Annual General Meeting of Shareholders on 23rd of June 2016 at 11:00 a.m. in Sofia.
Only thirteen months after the company was listed on the Bulgarian Stock Exchange, the single share price increased over 75% in comparison with the floated price – from BGN 3.50 to BGN 6.20. The growing trust in the medical and scientific concept of Tchaikapharma has reflected on the increase in the number of shareholders – individual investors and companies.
The audited financial results for the last reporting period include a 14.2% net profit growth up to BGN 7.78 million and a 10.7% increase in EBITDA up to BGN 12.84 million. The projected in 2015 financial results were achieved and surpassed.
During the last twelve months Tchaikapharma strengthened its leadership in the cardiovascular disease treatment in Bulgaria – six new medicines for the treatment of hypertension, ischemic heart disease, heart failure, rhythm and conduction disturbances were registered. The internal company statistics indicates that every tenth Bulgarian or more than 700 000 patients have used the company’s prescription-only medicines at least once a year.
In 2015 Tchaikapharma invested in building its own laboratory and scientific structure for conducting clinical bioequivalence studies. The created system has contributed to the development of the research potential of the pharmaceutical company and obtaining Market Authorisations for three medicines to treat cardiovascular diseases in eight EU countries – Bulgaria, Poland, the Czech Republic, Romania, Greece, Slovakia, Portugal and Austria.
The Research and Development activities of the company have focused on the treatment of diabetes, cancer and neurological diseases, which in the short term are expected to receive new authorisations for EU countries. The European expansion of the company includes creating, testing and registering combined innovative medicines for a range of serious diagnoses.
Tchaikapharma has taken a solid second place in the market capitalisation of the Bulgarian Stock Exchange and continues to climb steadily.