Growth For Chinoin In 1995

Hungarian pharmaceutical company Chinoin achieved sales of 22.2 billion forint ($145.3 million) in 1995, an increase of 22.2% on the previous year, reports MTI Econews. Of this total, 8.7 billion forint represented pharmaceutical exports, down from 11.5 billion forint in 1994. Domestic drug sales amounted to just over 7 billion forint, up 16%. Half of the total came from subsidies on the retail price of medicines.

Gross and net profits were 6.36 billion forint in 1995, up 58.2%. Chinoin is exempt from profit taxes. The firm's royalties in 1995 were 2.1 billion forint, up 20%, with the largest royalties coming from license fees for selegiline in North America and for ipriflavone in western Europe and Japan. Chinoin's North American patent on selegiline expires in June.