Results From Galena And Farmak

Czech drug producer Galena has recorded turnover of 1.61 billion koruna($48.5 million) in the first nine months of 1997, a rise of 10.3% compared with the like, year-earlier period, according to the CTK news agency. Net profits dipped 7.9% to 209 million koruna, but Galena expects to achieve profits of 237 million koruna for 1997, similar to 1996 levels and 300% higher than its net profit for 1995. The company noted that exports were showing a healthy rise, most notably to Russia, and this year are expected to be 20% higher than 1996.

For the same reporting period, fellow Czech drug company Farmak posted revenues of 426 million koruna, an increase of 22% on the same period of 1996. Exports accounted for 55% of turnover, while profits were reduced to 36 million koruna because of 31 million koruna's worth of damage at the company's facilities caused by severe flooding in July.